The Angolan Government plans to increase public investment by 15% in 2019, according to proposal do General State Budget (OGE), which reserves 1,079 billion kwanzas for this purpose.
According to the document, under discussion in the National Assembly of Angola until December 15, this portion, relating to the acquisition of fixed capital goods or investment, compares with the 934,270 million kwanzas from the same item in the 2018 OGE, however, since the approval of the Budget for this year, the kwanza has already depreciated by more than 40% against the euro and the dollar.
The Angolan Government reserves 3.8% of all expenses in the OGE proposal for 2019 for public investment, a similar weight to the budget execution for this year, but far from the 6.5% in 2017.
In 2019, it is expected to invest more than 123,065 million kwanzas in the construction of properties, 662,680 million kwanzas in infrastructure and facilities, 72,291 million kwanzas for rehabilitation works and 64,427 million kwanzas to acquire transport means and equipment. 38,952 million kwanzas are also reserved for data processing equipment and 32,832 million kwanzas for the acquisition of properties, among others, according to the OGE proposal submitted by the Government in parliament.
In the OGE proposal for 2019, under discussion in the National Assembly until December 15, the Angolan Government plans to collect in fiscal revenue – including taxes, social contributions and others – more than 7.423 billion kwanzas.
This Budget includes expenses and revenues in the amount of 11.345 billion kwanzas, an absolute increase of 17.1% compared to the 2018 OGE, and also foresees economic growth in 2019 of 2.8% of the Gross Domestic Product (GDP) and a accumulated inflation (January to December) of 15%.