30 November 2018

Angola: Authorities Foresee 1.5 Percent Fiscal Revenue Surplus in 2019

Luanda — The Angolan fiscal revenues for the year 2019 will have 1.5% surplus, announced last Thursday in Luanda the State minister for Economic and Social Development, Manuel Nunes Junior.

The government official gave such information at the presentation of the assessment report of the Executive's Macroeconomic Stabilisation Programme relating to the third quarter of the present year.

Manuel Nunes Júnior also revealed that the fiscal deficit for this year will go down to 0.4% of the GDP against the 6.2% in 2017.

In regard to the Net International Reserves, the economist sad that currently they are estimated at USD 11.6 billion.

However, he went on to explain, although the Net International Reserves are important elements in the external credibility of the country, they are not National Treasury Reserves, therefore they cannot be used to tackle current expenses of the state, such as the payment of salaries of the Civil Service.

For 2018 it is equally predicted a slight recovery of the real economy, with a negative index ranging between 0.1 to 1.1 per cent.

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