The draft State Budget for 2014 estimates revenues and spending of Usd 72.5 billion, which is about 54 percent of the Gross Domestic Product.
The information was released Wednesday in Luanda to the press by the Finance minister, Armando Manuel.
The minister was speaking at the end of the 7th ordinary session of the Cabinet Council.
This is a draft designed in line with the best international practices in the domain of good macro-economic management, of public finances and fiscal liabilities, the minister added.
He said that this year the Executive introduced a new methodology in the drafting of the budget, which enabled a more active participation of the ministerial departments, with a view to improving the alignment with the National Development Plan goals.
According to the official, this is about an alignment that seeks, among other respects, to respond to matters of national cohesion, improved living of families and creation of the bases for the development of the economy.
"This budget draft seeks to look to the new strategic governance options and ensure the control of inflation. We hope that in 2014, inflation varies from seven to nine percent," minister Armando Manuel also stated.
The minister added that there is an expectation of growth of the Gross Domestic Product of about 8,8 percent, with a pronounced increase in the non-oil production.
In the exchange domain, he stressed, the forecast is for some stability and an average exchange rate of Akz 98.00 to the US Dollar.
He put the expected oil barrel reference price in the year 2014 at Usd 98,00.
According to the official, the State Budget priorities for 2014 are focused on the social sphere (30 percent of the spending) and infrastructures. The budgetary deficit is expected to be of one digit, while the non-oil balance is 45 percent of the Gross Domestic Product.
The State Budget for 2013 as approved by the National Assembly (Angolan Parliament) on February 14 this year was estimated at Usd 66.3 billion worth of revenues and spending.