Business
After experiencing surplus, Angola aims to balance budget in 2012
(Reuters) – Angola’s government is aiming for a balanced budget in 2012, after an expected surplus this year, as it plans to step up spending on health and education, state news agency Angop reported on Tuesday.
Angola, Africa’s second-largest oil producer after Nigeria, hopes strong oil output next year will help it overcome the impact of the global financial crisis and continue recovering from a 27-year civil war that ended in 2002.
Angop said the 2012 draft budget bill delivered by the government to Parliament Speaker Paulo Kassoma on Tuesday forecasts revenues of 4.32 trillion kwanza (US$ 46 billion), with government spending matching that value.
Around a third of public spending is earmarked for health and education in 2012, an increase of around 10 percent from the amount budgeted for this year, Angop cited Parliamentary Affairs Minister Norberto dos Santos as saying.
The bill will be debated in parliament on November 15 and is expected to be passed by the ruling MPLA‘s large majority.
The plan was approved by President Jose Eduardo dos Santos‘ cabinet on Friday and Angop reported then that the government forecasts economic growth of 3.4 percent for this year and 12.8 percent in 2012.
