Fri, 18 Nov 2016 09:29 - Updated Fri, 18 Nov 2016 09:29
National Assembly passes 2017 Budget in general terms
Luanda - The State Budget Draft for the year 2017, which has revenues and expenses of about 7.3 trillion kwanzas, was approved last Thursday by the National Assembly (Parliament) in its general terms, with 150 votes in favour and 32 against.
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MPs approve 2017 state budget draft in its general terms
Photo: Foto Cedida pelo Jornal de Angola
The parliamentary session that passed the 2017 State Budget Draft was chaired by the Speaker of the National Assembly, Fernando da Piedade Dias dos Santos, and was attended by the chief of staff of the Angola President’s Civil Office, Manuel da Cruz Neto.
Drafted with basis on an uncertainty scenery in regard to the growth prospects for the world economy, the State Budget Draft predicts a GDP growth rate of 2.1 per cent, of which 1.8% refers to the crude-oil sector and 2.3% to the non-oil sector.
With priority falling on the economic and social sectors, which will take 56.6 per cent of the total tax revenue, this budget projects an inflation of 15.8% and a fiscal deficit of 5.8% of the GDP.
The budget was elaborated on the basis of an annual oil production of 662.2 million barrels, which corresponds to an average of 1.8 million barrels per day.
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