(Ecofin Agency) - Angola plans to cut expenditures in its 2019 state budget, Valor Economico informed citing a release by the country’s finance ministry.
The media indicates that though the exact extent of the reduction has not been announced, it should be around 30%.
These budget cuts were motivated by the change in the oil sector, notably, the current price of oil barrel ($68) that is higher than forecasted by Angolan authorities.
According to a source close to the case, civil servants’ salaries would not be affected by the cut even though the government promised a 12% pay rise.
Let’s note that the government had set the 2019 budget to $36.4 billion, an increase by about 17% compared to the $31.2 billion of 2018.
Moutiou Adjibi Nourou