Luanda, ANGOLA, April 29 - The Cabinet Council’s Economic Commission Friday in Luanda reviewed a Draft Law approving the State Budget (OGE) for 2019, estimated at AKz 10.3 billion, with the expenses set to the same amount, based on the international oil price: USD 55 per barrel.,

 

The session, chaired by the president João Lourenço, also discussed the revision of 2019 State Budget aimed to adjust the revenues and expenses to the new economic reality.

 

Oil price volatility in the international market prompted the reduction of tax revenues.

 

The session also approved balance sheet report for Macroeconomic stability programme for 2018.

 

In the same period the country collected revenues estimated at AKZ 2.6 billion, with expenses standing AKZ 2.8 billion, which led to a global deficit of AKZ 167.5 million.

 

The meeting also approved the financial planning of treasury for the second quarter of 2019, as well as the Presidential Decree regulating the  Goods Import Insurance contract.

The Economic Commission  also approved the report on the analysis of the main factors behind the origin and destination of the foreign currencies traded in the exchange market in 2018 and the National Bank's accounts report.

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