8 November 2018

Angola: Parliament Starts 2019 State Budget Discussions On 14 November

Luanda — The 2019 Draft State Budget, amounted at 11.2 billion kwanzas, will be analysed and voted on, in its general terms, in the First Extraordinary Plenary Meeting of the National Assembly (Angolan Parliament), scheduled for 14 November.

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Adalberto da Costa Júnior, UNITA MP

This main instrument of management and execution of the Government's policy was drawn up on the basis of a reference of 68 US dollars for the price of a barrel of oil.

The document was handed over last week by the minister of State for Economic and Social Development, Manuel Nunes Júnior, on behalf of the Executive, to the Speaker of the National Assembly, Fernando da Piedade Dias dos Santos.

In the proposal, Health expenditures represent seven percent of the total, against four percent in the budget of the current year, while in Education the figure is six percent, against the four percent of 2018.

With this Budget, the Executive envisages an economic recovery with a positive growth of 2.8 Gross Domestic Product (GDP) and a retraction of 1.1 percent, against 2.5 percent of 2017 and 2.6 percent of the year 2016.

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