The Angolan State Budget for 2017 is currently being debated by National Assembly until December.
With several reviews conducted through the year of 2016, mostly due to the ever falling oil prices, the budgetary document was approved in general and is currently being detailed discussed.
Notwithstanding the non-existence of a publicly available document, the key guidelines have been disclosed and mainly look forward to revert the economic downturn through the desired economic diversification. The following measures shall be underlined:
- Global economic growth rate of 2%, with a 2,1 % in the Oil and Gas field and 2.3% within other economic sectors – such shall be possible due to the increase of oil prices in 1,25%;
- Revenue and expenditure ranging in the order of 7,207 billion Kwanzas, mainly financed through an increase of parafiscal revenue in 700% and an increase of the State indebtedness to 3,142 billion Kwanzas. The Angolan Executive body is anticipating an amount of 484,2 billion Kwanzas in public interests payments;
- 15% Inflation rate for 2017;
- Expenditure in defense and security represent 20% of the annual budget, while the total expenses for Education and Health Care shall only reach 15.15%.
Additionally, the Government intends to stimulate and capitalize the Corporate Public Sector with an amount of 70 billion Kwanzas.
Overall, the GDP shall increase to an amount of 19,746 billion Kwanzas in 2017.