Angola: State Budget Records Deficit of More than US$2.7B‎ in 2015- Report

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According to a report, considered and approved by Economy and Finance Commissions of the Constitutional and Legal Matters of the National Assembly, Angola’s 2015 General State Budget recorded a 456.40 billion kwanza deficit.

In that financial year, the Government had estimated budget revenue at more than 5 Trillion kwanzas, however, it received only 3.9 trillion.

The reason is believed to be the incurred expenses worth 4.39 trillion kwanza which resulted in the budget deficit.

The statistics in the report were approved and considered at meeting of EFCCLM i.e. Economy and Finance Commissions of the Constitutional and Legal Matters of the National Assembly.

With 15 votes in favour and 1 vote against, the State Fiscal Year 2015 General Account was approved for Specialized Work by Joint Commission. It will be submitted to National Assembly Plenary.

According to the report, clarified by Aia-Eza da Silva (Secretary of State for Budget) and presented by Ruth Mendes, the collected revenue in cash, including from National Institute of Social Security (INSS), stood at 72% of total revenue and current revenue stands at 97%.

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