18 January 2018

Angola: President Attends 2018 State Budget Approval Session

Luanda — The President of the Republic, João Lourenço, attended the general discussion and approval of 2018 State Budget proposal.

It is first time that the Head of State attends in the Parliament in the act of discussing this financial instrument.

João Lourenço was in Parliament for the first time as President of the Republic in October 2017 to deliver the State of the Nation address, in compliance with the legislation.

The Deputy President of the Republic, Bornito de Sousa, and other members of the government accompanied the Head of State at this session.

The 2018 State budget proposal estimates revenues of over 9.6 trillion Kwanzas and sets expenses at the same value.

In order to ensure macroeconomic stability in the present situation, the Government has prepared the proposal for 2018 State budget supported by the GDP growth rate of 4.9%, the average oil price of USD 50, and a fiscal deficit of 2, 9% of GDP.

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