Angola to Begin Rolling Out 2024 Budget

By Xinhua 

January 2, 2024

The General State Budget of Angola for 2024, valued at 24.7 trillion kwanzas (about 2.8 billion U.S. dollars), came into effect starting Monday and will be implemented from Tuesday.

Angola’s national budget for this year is 22.94 percent larger than that of 2023, Angola Press Agency, the official news agency of the country, reported. According to the budget, Angola will have an inflation rate of 15.3 percent and a real growth of 2.84 percent in the gross domestic product this year. The budget was approved by the National Assembly on Dec. 13, 2023, with revenues estimated based on an average oil barrel price of 65 U.S. dollars and an average daily production of 1.06 million barrels.

Oil revenues are the main source of finance for Angola. The country’s average daily crude oil production in November was 1.08 million barrels, according to the most recently published official data.