14 December 2012

Angola: 2013 State Budget Draft Prioritizes Social Sector

Luanda — The draft for the 2013 state budget (OGE), which was submitted on Friday here to the National Assembly, prioritises the social and administration sectors, with expenditures, estimated at 33.5 and 23 per cent, respectively.

The Minister of Finance, Carlos Lopes, said that after the two mentioned areas, comes the defence and economic sectors with about 18 per cent.

Carlos Lopes also said that the draft of the next state budget foresees that the international net reserves will have a relative weight of about 32 per cent of the Gross Domestic Product (GDP).

Commenting about the exchange rate, the official said it may vary, but stable and may be in an avarage of 96 Kwanzas for one dollar.

"Due to this, the state budget in matters of expenditures may reach about AKZ 6.6 trillion that will represent 55.5 per cent of the GDP", said the minister.

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