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MPs approve resolution on state budget execution

Luanda, ANGOLA, August 9 - The National Assembly approved on Thursday, the draft resolution on the consideration of the State Budget Execution Report for the first quarter of 2019, with 108 votes in favor, 45 against and three abstentions.,

The report notes that, during the first quarter, prospects for national economic growth recorded a growth rate of 0.4 per cent of the Gross Domestic Product(GDP) in the non-oil sector while the oil and natural gas sector a negative growth of 2.6%.

The oil sector recorded an approximate production of 126.6 million barrels of oil, corresponding to an average production of 1.4 million per day.

The Kwanza benchmark exchange rate against the US dollar in the primary market was 314.90 kwanzas / USD, showing a stable course.

Budgetary resource collection and application flows over the period under review recorded revenues of 1.5 million kwanzas and expenditure estimated at AKZ 1.4 million, with a budget surplus of 102, 8 million kwanzas.

The referred revenues collected, represents 14% realization, against 7% in the first quarter of 2018.

Current revenues collected during this period amounted to 1,5 million Kwanzas, corresponding to a 21% revenue level, compared with 14% in the first quarter of last year.

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