Angola’s budget for 2017 reaches US$44 billion

24 October 2016

The Angolan State Budget (OGE) for 2017, analysed on Friday by the Council of Ministers in Luanda, provides for overall revenues and expenses in the order of 7.3 trillion kwanzas (US$44.22 billion), compared to 6.9 trillion kwanzas in the 2016 budget, according to Angolan news agency Angop.

The Secretary of State for the Budget Aia-Eza da Silva estimated that the economy will grow 2.1% in 2017 and that the average annual inflation rate will be 15%.

Aia-Eza da Silva said the forecast fiscal deficit for 2017 is estimated at 5.9%, a value considered to represent a “sustainable level compared to the estimated debt figures.”

The Secretary of State for the Budget said that “the focus has been on collecting greater non-oil revenue,” but admitted, however, that this factor is related to the progress and results seen in the process of diversification of the economy underway in Angola. (macauhub)