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Tue, 07 May 2019 19:12 - Updated Tue, 07 May 2019 19:14

Angola: Revised 2019 general budget forwarded to Parliament

Luanda - The revised 2019 Draft State Budget with expenses and revenues standing at Akz 10.3 billion was officially delivered on Tuesday by Angolan government economic team to National Assembly.

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Delivery session of revised state budget

Photo: Clemente dos Santos

National Assembly speaker Fernando da Piedade Dias dos Santos (L.) minister of state of economic and social development , Manuel Nunes Júnior

Photo: Clemente dos Santos

The Minister of State for Economic and Social Development, Manuel Nunes Júnior, formally handed the document to the National Assembly Speaker, Fernando da Piedade Dias dos Santos

The 2019 State Budget worth Akz 11.2 billion, still in force, and approved last December, was drawn up on the basis of an overage price per barrel of   USD 68.

The price of crude in the international market is currently around US D 71 / day, but the average may reach US D 59 by the end of the year, according to forecasts by the International Monetary Fund.

Drop in oil price forced a review of Angola’s 2019 State Budget.

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