Angola’s draft budget forecasts 2025 deficit of 1.65% of GDP

LUANDA (Reuters) -Angola’s government anticipates a budget deficit of 1.65% of gross domestic product in 2025, slightly higher than this year’s projected 1.46% deficit, draft budget documents showed.

The draft 2025 budget of Africa’s second-largest crude oil exporter is based on a $70 a barrel oil price, according to the documents posted on the finance ministry’s website. Brent crude futures were trading around $74 a barrel on Friday.

Angola’s finance minister Vera Daves de Sousa told Reuters last week that the prospect of lower oil prices was putting a lot of pressure on the southern African country.

The draft budget also sees economic growth accelerating to 4.1% next year from 3.3% this year, with faster growth predicted for non-oil sectors.

External financing needs are seen at 7.09 trillion kwanzas ($7.80 billion) in 2025, up from the 6.17 trillion seen in 2024. Internal financing needs are estimated at 7.55 trillion kwanzas, up from 3.83 trillion this year.

The finance ministry estimates annual inflation will end next year at 16.6%, from over 29% currently.

Daves de Sousa told Reuters last week that Angola was considering requesting a financing programme from the International Monetary Fund.

Its most recent IMF programme was for $3.7 billion, approved in 2018 after global crude prices tanked, decimating the country’s revenues.

($1 = 909.0510 kwanzas)

This post is originally published on INVESTING.

  • Related Posts

    Oil falls after Trump reverses Colombia sanctions threat

    By Anna Hirtenstein LONDON (Reuters) -Oil prices wavered on Monday after the U.S. and Colombia reached a deal on deportations, reducing immediate concern over oil supply disruptions but keeping traders…

    Dollar gains on tariffs fears; euro looks to ECB meeting

    Investing.com – The US dollar slipped lower Monday, rebounding after recent losses as attention returned to the potential for trade tariffs from the Trump administration at the start of a…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Revolut Eyes Israel Expansion: Engages with Regulator to Become a “Lean Bank”

    • June 10, 2025
    Revolut Eyes Israel Expansion: Engages with Regulator to Become a “Lean Bank”

    Short-Term Analysis for Oil, Gold, and EURUSD for 10.06.2025

    • June 10, 2025
    Short-Term Analysis for Oil, Gold, and EURUSD for 10.06.2025

    iSAM First Opened a New Cyprus Office, Now It Has Moved to a New Hong Kong Location

    • June 10, 2025
    iSAM First Opened a New Cyprus Office, Now It Has Moved to a New Hong Kong Location

    iSAM Moves to a New Hong Kong Office to Handle Growing APAC Demand

    • June 10, 2025
    iSAM Moves to a New Hong Kong Office to Handle Growing APAC Demand