Angolan parliament begins debate on state budget for 2020

19 November 2019

The draft bill of the Angolan State Budget (OGE) for 2020 is due on Tuesday to come under general discussion in the Angolan National Assembly. during the 1st ordinary plenary session of the 3rd legislative session of the 4th legislature.

The OGE/2020 proposal outlines expenditure and revenue of 15.875 trillion kwanzas (US$34 billion), an increase of 4.5 billion kwanzas from the revised 2019 General State Budget.

The Minister of State for Economic Coordination, Manuel Nunes Júnior, while delivering the bill in parliament, said that the OGE for 2020 forecasts a positive balance of 1.2% of Gross Domestic Product, remaining on a path of budget surplus. started in 2018, with 2.2% of GDP.

The Minister of State said that with the 2020 State Budget he expects a recovery of economic growth of some 1.8%, with the non-oil sector increasing 1.9%, and with a focus on the agriculture, fisheries and manufacturing sectors, in order to reverse the negative results recorded since 2016.

Finance Minister Vera Daves said in turn that the 2020 OGE was prepared with a reference value for each barrel of oil of US$55, a figure that is expected to offset possible price volatility. (Macauhub)