More than half of the public expenditure forecast by the Angolan government for the first quarter of this year (54%), totaling €6.3 billion, will be used to pay debt, according to a statement released by the Council of Ministers on Wednesday (28).
According to Lusa, the Angolan government reviewed the National Treasury’s financial planning between January and March, with total expenditures of €6.3 billion, of which 54% is earmarked for debt service, which includes amortization and interest on domestic and foreign debt.
The final statement from the first ordinary session of the Council of Ministers this year states that the National Treasury’s financial planning for this year, with projections of financial inflows and outflows in 2026, considers a price of US$61 and a production of 1.05 million barrels of oil per day.
The document indicates that in the first quarter, the public debt service category will absorb €2.3 billion, followed by personnel expenses in the amount of €1 billion, representing 24% of the total for the period.
“The remaining 22%, equivalent to €937.9 million, will be distributed among the other categories,” the document points out.
The Council of Ministers also reviewed, for submission to the National Assembly, the law approving the Legal Regime for Collaborative Financing, a legal instrument that responds to the need to create financing alternatives for companies and economic agents through electronic platforms, with a view to promoting sustained economic growth and ensuring the protection of financiers, consumers, and the credibility of the financial system.
Another document considered by the ministers was the law approving the Legal Regime for the Supervision of External Audits of Public Interest Entities, a piece of legislation that defines the competence, organization, and functioning of the supervisory system, as well as the public interest entities subject to account audits and the legal requirements for conducting them.
