Ver Angola

Economy

Country spent 3.2 billion kwanzas to pay off foreign debt

The country spent 3.2 billion kwanzas, in 2019, in the payment of external debt without oil guarantees. The information was advanced by Vera Daves, Minister of Finance, this Tuesday, during the presentation of the General State Account for the fiscal year 2019, in the National Assembly.

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Clarifying that a debt service of 3.1 trillion kwanzas was ensured, the Finance minister said that of that amount, 2.1 trillion kwanzas were used to repay capital, 947 billion were used to pay interest and 51 billion were used for commissions.

In 2019, the General State Budget amassed about 9.9 trillion kwanzas, said Vera Daves, quoted by Angop.

According to the minister "these revenues can be divided into current and capital revenues." In relation to current revenues, these "contributed with about 67 percent of the total collected and the capital with 33 percent of the total amount collected," she added.

Vera Daves also took the opportunity to talk about performance: current revenues registered a higher occurrence (108 percent) while capital revenues registered 78 percent.

During the period under review, the country remained in recession, the minister said, explaining that Angola recorded a performance of -2.9 percent while inflation rose to 25 percent.

This Tuesday, deputies voted on the General Account of the State that concerns the 2019 fiscal year.

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