Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

• Last Friday, after the approval in the Council of Ministers of the 2021 State Budget (OGE) 2021, the Minister of Finance submitted the OGE proposal to Parlament for approval;
• In the international market, Brent maintained the downward trend, due to expectations regarding measures to fight the pandemic in Europe, where demand is expected to fall;
• Brent traded on Friday for USD 37.46, a drop of around 10% compared to the close of the previous week. Today Brent trades around USD 40.1;
• Correction: on last week's Angola Weekly, we erroneously reported on budget execution data in the first half. The correction follows: in the first half of 2020, the Government recorded a positive budget balance of AOA 0.6 trillion, equivalent to bout 3.6 % of GDP.

Best regards,
BFA

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