Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Total revenue collected by the State in Q2 2021 recorded a year-on-year growth of 42% , from AOA 2.3 trillion (Tn) to AOA 3.2Tn.
On the Expense side, there was a slight variation of +6% yoy in Q2 2021, mainly due to the combined increase in the Goods and Services items of 172% and 97%, respectively.
Last Thursday, the Secretary of State for Planning, Milton Reis, announced that the IMF is preparing the sixth and final assessment of the extended arrangement under the Extended Fund Facility Program.
In the foreign exchange market, last week was marked by a 1.2% appreciation of the Kwanza against the Dollar and 1.6% against the Euro, having closed the week at USD/AOA 625.3 and EUR/AOA 739.7.
Last week, the President of Angola authorized the acquisition of 10 million doses of the Sinopharm vaccine, as well as logistics and equipment services worth USD 80 million.
The Angola Oil & Gas Conference was held in Luanda on the past 9th and 10th of September, with the Angolan government expressing its intention to proceed with an Initial Public Offering of 30% of the capital of the Angolan state oil company.

Best regards,
BFA

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