Angola’s 2016 State Budget comes up for final vote on 14 December

5 December 2016

Angola’s parliament is scheduled on 14 December for a final vote on the draft State Budget Law for 2017, after its approval in general terms in a plenary on 17 November, according to a decision of National Assembly.

The bill includes expenses of 7.3 billion kwanzas (US$43.784 billion) focusing on the economic and social sectors, which account for 56.6% of the total, while the remaining sectors account for 43.4%.

The macroeconomic scenario outlined in the proposal forecasts growth of Gross Domestic Product (GDP) of 2.1%, an inflation rate of 15.8% and a budget deficit of 5.8% of GDP.

More than US$6 billion of expenditure included in the state budget were earmarked to continue structural public works in Angola, according to official statements made at the time of delivery of the bill in parliament. (macauhub)