Angolan lawmakers pass budget bill for 2018

The Angolan legislature has passed the budget bill for this year, which provides for government spending of 9.6 trillion kwanza (US$45.69 billion) and assumes that the economy will grow by 4.9 percent, Reuters reports.

The news agency says the bill assumes much faster growth than the International Monetary Fund, which forecasts expansion of 1.6 percent.

The report quotes Angolan Minister for Economic Development Manuel Nunes Júnior as saying the budget targets can be revised, if necessary, and that the government will need to reduce its debt, in view of the difficulties it has in bringing in revenue.

The budget bill envisages a fiscal deficit this year equivalent to 2.9 percent of gross domestic product, Reuters says.