Angola Exceeds Oil Revenues Forecast in State Budget

Luanda — The Angolan state has collected 4.9 trillion kwanzas in oil revenues up to October of this year, exceeding the figures previously projected in the 2021 State Budget.

This financial instrument, at an average price of US$39 per barrel, with the OGE/2021, predicted oil revenues of some 4.06 trillion kwanzas.

Consolidated figures from the Special Taxation Directorate (DTE) of the General Tax Administration (Ministry of Finance) point to accumulated figures of around 4.9 trillion kwanzas.

The Directorate said that the amount received in that period was the result of exports, over the last 10 months, of 347.2 million barrels at an average price of US$64.04.

Observing the figures so far, over 800 billion kwanzas is considered to be a surplus until October of this year.

The rise in crude oil prices on the international market, now around US$80, continues to have a positive influence on the country's accounts, since oil is its main export product.

During the last 10 months, the month of October registered the "peak" in terms of oil revenues, recording the value of 744, 8 billion kwanzas with the export of 35, 8 million barrels at a price of USD 74.01.

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