Macroeconomic Forecast Angola

The Angolan parliament has approved a revised budget that would see the fiscal position move from a planned deficit of 2.7% of GDP to an estimated surplus of 1.2%. Although the revised budget does involve a minor reduction to spending existing spending plans, the major change was to the benchmark oil price, which was raised from US$58.00/bbl to US$65.32/bbl. Our own forecast, which had long been based on a more optimistic oil price assumption, foresees a deficit equivalent to just 0.2% of GDP.

To read the full article, please choose one of the following options: