The information was presented this Wednesday by the Minister of State for Economic Coordination, Manuel Nunes Júnior, in the National Assembly, which approved in general the proposed revised General State Budget (GSB) for 2020.
"This means that Angola's debt between 2017 and 2019, in real terms, fell, but increased in nominal terms, because in 2017 there was practically no major depreciation of the currency, in 2018/2019 there was already a major depreciation of the currency, so that when the currency depreciates greatly more kwanzas are needed for each dollar," explained Manuel Nunes Júnior.
The ruler reinforced that, with this reversal in 2018/2019, the public debt of the country decreased.
"If we compare the public debt from 2017 to 2019, in real terms the public debt has decreased and when I speak in real terms I am referring to the debt denominated in dollars, not kwanzas", said Manuel Nunes Júnior, underlining that this is an important element.
The Minister of Finance, Vera Daves, told MEPs that the fiscal space being freed up by the debt service was softening and that she was already able to increase capital spending in the economic and social sector.
"And that, obviously, will bring short, medium and long-term benefits for Angolans," he said.
According to the minister, she also allowed the deficit not to be much larger than it is, thus bringing benefits.
"And in the following years we intend to maintain our conservative strategy of contracting as little funding as possible, we will elaborate a medium-term fiscal strategy, focused on that, active reduction of the 'stock' of debt, responsible funding, focusing on those projects that generate value and that generate economic and social impact," she said.
