Angola’s fiscal revenue to have 1.5% surpass in 2019, say authorities


Devdiscourse News Desk | Luanda | Updated: 01-12-2018 13:10 IST | Created: 01-12-2018 13:10 IST
Angola’s fiscal revenue to have 1.5% surpass in 2019, say authorities
Image Credit: YouTube / TV PARLAMENTO ANGOLA
  • Country:
  • Angola

The Angolan fiscal revenues for the year 2019 will have 1.5 percent surplus, announced last Thursday in Luanda the State Minister for Economic and Social Development, Manuel Nunes Junior.

The government official gave such information at the presentation of the assessment report of the Executive's Macroeconomic Stabilisation Programme relating to the third quarter of the present year.

Manuel Nunes Júnior also revealed that the fiscal deficit for this year will go down to 0.4 percent of the GDP against the 6.2 percent in 2017.

In regard to the Net International Reserves, the economist sad that currently they are estimated at USD 11.6 billion.

However, he went on to explain, although the Net International Reserves are important elements in the external credibility of the country, they are not National Treasury Reserves, therefore they cannot be used to tackle current expenses of the state, such as the payment of salaries of the Civil Service.

For 2018, it is equally predicted a slight recovery of the real economy, with a negative index ranging between 0.1 to 1.1 percent.

With inputs from agency.

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