Angola Plans Spending of $43.4 Billion Next Year, Angop Reports
Angola’s government plans to spend 4 trillion kwanza ($43.4 billion) next year, according to budget plans to be debated by parliament tomorrow, Agencia AngolaPress said.
The budget is based on forecasts of faster economic growth than in the previous two years, the Luanda-based Angop said, citing the budget document. Spending plans include $16 billion to tackle poverty and promote rural development, it said.
On Oct. 15, President Jose Eduardo dos Santos forecast economic growth in Africa’s second-largest oil producer would accelerate to 8 percent in 2011 from 4.5 percent this year.
To contact the reporter on this story: Candido Mendes in Luanda, Angola at cmendes6@bloomberg.net.
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.
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