Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The proposal for the General State Budget (OGE) for 2022 entered Parliament last week.
On the oil sector side, the Government forecasts a growth of 1.6% and tax revenues of AOA 6.1 trillion (+51% compared to the previous State Budget).
Regarding the non-oil economy, the document assumes a growth of 3.1% and tax revenues estimated at AOA 4.6 trillion (+34.5% compared to the previous OGE).
On the financing needs side, the Executive anticipates financing needs around AOA 7.1 trillion (13% of GDP).
Last Thursday, OPEC+ members decided to maintain the plan to gradually increase oil production by 0.4 mbd in December.
The total quantity of fuels distributed in Angola in Q2 2021 decreased by around 10.6% compared to Q1 2021.

Best regards,
BFA

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