12 December 2012

Angola: 2013 Draft Budget in Line With National Development Plan

Luanda — Finance minister Carlos Alberto Lopes said in Luanda that the State's General Budget for the year 2013, which was approved last Tuesday by the Cabinet Council, is in line with the premises outlined in the National Development Plan for 2013-2017.

The minister said so the press on Tuesday, in the end of the first extraordinary session of the Cabinet Council, held in the Presidential Palance, in Luanda, chaired by the Angolan Head of State, José Eduardo dos Santos.

On the occasion, Carlos Alberto Lopes explained that the National Development Plan foresees an inflation of 9 per cent a year and an oil production of about 673,5 million barrels at the price of 96 US dollars per barrel, as well as a growth of the Gross Domestic Product (GDP) of 7,1% (6,6% from the oil sector and 7,3% from other sectors).

The minister also revealed that the 2013 State's General Budget Draft foresees incomes and expenses estimated at 6,6 trillion kwanzas, fifty per cent of which are revenues from the oil sector, 17% come from the non-oil sector, 15% are from internal financing and 11% from external financing.

He said the for its nature, the Budget also prioritises the increase of socioeconomic infrastructures, envisaging measures aimed at increasing employment and well-being of the population.

Among other information regarding the social sector, the minister revealed that the Budget Draft, which will be submitted to the National Assembly on Friday, allocates a significant sum to primary education.

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