Luanda — The National Assembly on Wednesday approved the General State Account for the 2024 financial year, with 111 votes in favour, 68 against and five abstentions.
The document, which reflects the performance of the main macroeconomic indicators that directly affected the implementation of the 2024 State General Budget, was approved during the 4th Extraordinary Plenary Meeting of the 4th Legislative Session of the 5th Legislature.
The plenary session was marked by intense debate on public debt, budget allocation and the impact of public policies.
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The document shows that revenue collected in 2024 totalled 25.31 trillion kwanzas, representing 102.39 percent of the projected revenue execution.
Current revenue amounted to 17.81 trillion kwanzas, representing 121.28 percent of the annual revenue estimate and accounting for 70.39 percent of total revenue collected during the year under review.
Current revenue increased by 35.98 percent compared with the previous year, driven by oil revenue, social and economic contributions, and tax revenue, which recorded execution rates of 128.89 percent, 145.47 percent and 108.01 percent, respectively.
According to the explanatory report, revenue increased by approximately 24.47 percent compared with the previous year.
The report further states that the country's inflation rate stood at 27.5 percent, above the 15.3 percent rate projected in the 2024 State General Budget.
Meanwhile, the oil sector recorded average production of 1.120 million barrels per day, above the target of 1.06 million barrels per day set in the 2024 State General Budget.
Cumulative crude oil production during the year under review reached 411.56 million barrels, exceeding the target of 388 million barrels set in the 2024 State General Budget.
The average Brent crude price, the main benchmark for Angolan crude grades, stood at 79.71 US dollars per barrel, 14.71 dollars, or approximately 22.63 percent, above the 65-dollar-per-barrel forecast.
