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ANGOLA: Public debt totals over USD33b at the end of 2012

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image Grey clouds hang over Luanda’s bay

The Angolan state’s total net debt, at the end of 2012, was USD33.314 billion or 29 percent of the country’s gross domestic product (GDP), Angola’s Finance Minister, Armando Manuel said in Luanda.
The figure was announced by the minister at the presentation of the General State Account for 2012 at the country’s parliament.
According to information published on the Finance Ministry’s website state debt at the end of 2012 “was the equivalent of 29.15 percent of the GDP and rose by 5.6 percent year on year, reflecting efforts made in the are of raising funds to finance the public investment program.”
At the presentation to the Angolan parliament the minister also said that “net assets account” totaled 4.528 billion kwanzas (around de US$46.3 billion).
The Finance Minister also told members of parliament that the recommendations issued by the Court of Auditors on State Accounts for 2011 and 2012 “are being given the necessary treatment to prepare the General State Account for 2013.”
MDT/Macauhub

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