Angola’s Annual Debt Plan for 2017 outlines gross borrowing of 4.667 trillion kwanzas (US$28 billion), 75% of this total to be raised in the domestic market, said Monday in Luanda the secretary of the Treasury to the Ministry of Finance.
Mario Nascimento, who spoke at the meeting which to present The Annual Debt Plan (SAP), said that 3.5 trillion kwanzas of public debt will be placed on the domestic market, with the remaining portion to be raised on the external market.
At the meeting, which brought together representatives of the banking sector, the Securities Market Commission and the Angolan Stock and Debt Exchange, the Treasury Secretary said that the amount of public debt will represent 53.29% of gross domestic product at the end 2017.
The director of the Debt Management Unit (UGD), Osvaldo João pointed out that net financing for the state will be 1.087 trillion kwanzas (US$6.5 billion), with the remainder for debt repayments to be made during the year.
In the domestic market, from Treasury bills the Angolan State intends to issue debt in the amount of 1.568 trillion kwanzas (US$9.4 billion), while through Treasury Bonds it expects to raise 1.803 trillion kwanzas (10.8 billion euros) and mutual contracts with banks 122.7 billion kwanzas (690 million euros).
Angola’s public debt (except debt incurred by state enterprises) should, according to the government’s forecast, rise from 52.47% in 2016 to 53.29% of Gross Domestic Product (GDP) this year, a record high but below the legally defined ceiling of 60%. (macauhub)