Luanda — The crude oil price fall of the last few days in the world market might have a negative impact on the Angolan economy.

This was admitted Wednesday in Luanda by Angolan Finance minister, Severim de Morais.

A few weeks ago, the crude oil barrel was being traded at Usd 140,00 having drastically fallen in the last few days, with the brent costing Usd 76,00 and downtown Usd 81,00, the official said.

He was speaking on the world financial crisis, at the end of the first session of the National Assembly (Angolan Parliament).

However, the minister expressed optimism about the State Budget for 2009 as, he added, it was drafted taking into account the average rate of Usd 65,00, with a protection margin.

Next year's State Budget, according to Severim de Morais, is very balanced and expects an increase of public expenditures in the areas of goods and services, aiming at securing the maintenance of social infrastructures built by the Government.

In his turn, speaking of the oil price fall and the impact of the world financial crisis on the Angolan economy, the World Bank representative to Angola, Alberto Chueca, said that with a good acro-economic management and the good level of exchange reserves obtained, the negative effects of the crisis on Angola will be reduced.

He said the situation to Angola is not all that bad, recalling that the country has not a stock exchange and the inter-banking market is still very tiny, and the economic indicators are stable.

Angola has a superavit budget, a current account balance, high foreign reserves and will not suffer the negative impact of the world crisis so soon, Alberto Chueca stressed.

On the other hand, the WB representative advised Angolan Government to boost and diversify the country's productive activity.

Angola is a member of the Organisation of Petroleum Exporting Country (OPEC) and has an actual production of more than 1.6 million barrels a day.