Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.


•The BNA's Monetary Policy Committee kept the BNA Rate unchanged, announcing a custody fee on banks' excess liquidity, in order to encourage the granting of credit;
•According to Bloomberg, the IMF postponed the decision scheduled for last Friday, on the 3rd Review of the Extended Arrangement under the Extended Fund Facility, until at least the second half of August - when the Executive Board of the IMF meets again;
•The Revised State Budget (OGE) for 2020 received final approval last Tuesday, assuming a Brent reference price of USD 33, and an oil production of 1.284 million barrels per day;
•The new Income Tax table will come into force in September, after publication in Diário da República - there are now 13 levels with rates between 10-25%, making the tax more progressive, increasing taxation at the highest levels and increasing the level at which the tax is paid.

Best regards,

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