ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Mon, 26 Feb 2018 16:00 - Updated Mon, 26 Feb 2018 16:00

Angola: Public debt levels remain unchanged

Luanda - Angolan Government has ruled out the intention to increase its public debt, estimated at 54.5 billion Euros.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

Secretary of State for budget, Aia-Eza da Silva

Photo: Joaquina Bento

This was said by the State Secretary for Budget and Public Investment, Aia-Eza da Silva.

Based on the projections of 2018 State Budget (OGE), approved 14 January by Parliament, the fiscal deficit is estimated at 3.5 percent of Gross Domestic Product.

 Aia-Eza da Silva was answering the issues related to the Budget (estimated at AKz 9.6 trillion), raised by entrepreneurs linked to the banking, economic and productive sector.

In a debate sponsored by "Jornal Expansão" newspaper, the official said that it is not the Government's intention to increase the debt, so the deficit was reduced from 7.5% in 2015 to 3.5% in 2018.

Aia-Eza da Silva reinforced the Executive's position, saying that the State will only go into debt to pay the expected commitments.

She added that the Budget deficit will be covered mostly with foreign exchange reserves.

She went on saying that the debts to be paid also include those related to small and medium-sized enterprises.

Addressing hundred participants at the forum, the State Secretary described the current context of Angolan economy as tough.

According to her, one thing is to rule with the full coffers and another with empty coffers."

Tags Economy  

Read also
  • 31/01/2019 17:55:18

    Governor guarantees support for agricultural development

    Saurimo - The provincial governor of Lunda Sul, Daniel Félix Neto, assured Thursday in Saurimo, to support peasants with agricultural instruments and seeds, as part of the Government's strategy to combat hunger and poverty.

  • 31/01/2019 10:43:25

    Angola and Namibia study model of Baynes dam construction

    Malanje - Angola and Namibia on Wednesday discussed technical, economic and environmental requirements for the construction of the Baynes Binational hydroelectric dam in the border region of both countries.

  • 30/01/2019 11:42:40

    Biocom to increase sugar output

    Luanda - The Bio-energy company of Angola (BIOCOM) expects to increase its sugar production this year, from the prior 73,000 produced in 2018 to 100,000 tonnes in 2019, said the firm’s assistant manager, Luis Júnior.

  • 30/01/2019 09:01:30

    Sonangol exports over 92,200 metric tonnes of crude-oil in last quarter of 2018

    Luanda - The state-owned National Fuel Society (Sonangol) exported in the last quarter of last year 92,211 metric tonnes of crude-oil, which yielded a revenue of just over 39.5 million dollars, announced on Tuesday the company’s Executive Commission head for international trade, Luís Manuel.