15 January 2013

Angola: Parliament Approves 2013 State Budget

Photo: oneVillage Initiative
Luanda

Luanda — The National Assembly passed on Tuesday the 2013 State Budget that foresees incomes and expenditures worth 6,635,567,190,477,00 trillion Kwanzas, Angop has learnt.

The document of the State financial management was approved in an ordinary plenary session, chaired by the Speaker of the Parliament, Fernando da Piedade Dias dos Santos, with 156 votes in favor, eight against and 31 abstentions.

The document was presented by the Minister of Finance, Carlos Lopes, being that the budget gives priority for the social sector with 33,5 per cent, education (8,09), Health (5,29), social protection (10,83), housing (7,02) and environmental protection (1,1).

According to the budget, the public administration has 23,6 per cent and defense and economics sectors have about 18 per cent.

The Minister explained that the budget was defined taking into account the real growth rate of the gross domestic product of 7.1 per cent, the exchange rate (96,30 Kwanzas per dollar), as well as the inflation rate of 9 per cent.

Meanwhile, the oil sector will contribute for the budget with 50 per cent, due to the growing of the production and the favorable prices, followed by the incomes of the non-oil sector, with 17 per cent and external financing, with 12 per cent.

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