Public Management

Angola announces a cut in the 2019 budget  

Tuesday, 15 January 2019 15:53
Angola announces a cut in the 2019 budget  

(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

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