Luanda — The Angolan state issued 1.80 billion kwanzas in domestic debt securities to banks in 2022, according to weekly information on the Angolan economy published Monday in Luanda, by Fomento Angola Bank (BFA).

According to the publication dated 9th January, sent to the bank´s partners, to which ANGOP had access, it is estimated that total issues of securities on the primary market totalled 1.83 billion kwanzas, plus securities issued directly to investors, which totalled 0.02 billion kwanzas accounted until September 2022.

With this figure, BFA said that debt is closer to 82% of the forecast in the Annual Debt Plan (PAE).

The report also stresses that with oil taxes revenues, which were higher than expected, the Treasury Office issued less than half of what it expected in short term bonds and less than a third in dollar bonds, and took advantage of the opportunity to reduce rates as well as to issue further 32% in bonds with maturity ranging from 2 to 10 years.

However, the 2023 emissions will begin in the current month, after approval of the Presidential Decree in order to authorise emissions of up to 2.16 billion kwanzas

The mentioned Presidential Decree allows the Treasury Office to start financing this year, before approval of the 2023 State Budget, which will be discussed in the National Assembly this month.