14 February 2013

Angola: Parliament Meets to Approve 2013 State Budget

Luanda — The National Assembly (Angolan Parliament) is holding this Thursday its 4th plenary ordinary session in Luanda to definitely approve the State Budget for 2013.

The 2013 State Budget with revenues and expenditures estimated at Akz 6.6 trillion was generally approved by the MPs on January 15.

A wide programme of discussions between the specialized commission and the Government social partners and representatives of the sectors of the economy, social, defence, security, public order and justice followed.

The State Budget makes provisions for 33.5 percent for the social sector, with education getting 8.9 percent, health (5.29), social security (10.83), housing (7.02) and environment protection (1.1).

Public administration follows with 23.6 percent and the sectors of defence and economy with 18 percent.

A significant support will be given to the expansion of the economic and social infrastructures required to increase production, job and wellbeing of the population.

Investments will take 24.7 percent, personnel (19.51), debt payment (18.24), while goods and services will take 17.5 percent.

The State Budget was designed on the basis of a real growth tax of the Gross Domestic Product of 7.1 percent, exchange rate of Akz 96.30/Usd and an inflation rate of 9.0 percent.

The oil sector will contribute 50 percent, followed by the non-oil sector revenues with 17 percent, while external funds will respond for 12 percent.

The fiscal revenues are estimated at about Ak 4.5 billion and fiscal expenditures of Akz 4.9 billion, resulting in a fiscal deficit of 407.4 billion, equivalent to 3.4 percent of the Gross Domestic Product.

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