Luanda - About 780 billion kwanzas, twice the payroll of civil servants, was the amount that the Angolan government spent to pay the debt service last July, according to the Secretary of State for Finance and Treasury, Ottoniel dos Santos.
According to the leader, who was speaking during the 26th thematic session that addressed the theme 'Public Finance Reform and Sustainability Program', the ongoing wage bill is estimated at 295 billion kwanzas.
He said that it was necessary to carry out an 'exercise' in order to provide, exactly, the responsibility of the State, with emphasis on the payment of salary and debt.
Data published by Jornal Expansão last June indicate that Angola's total internal and external debt, at the end of March this year, was equivalent to US$67.203 billion, equivalent to almost 56 billion kwanzas, with 74% of the overall debt being external, while the remaining 26% have national institutions as creditors.
The public debt is divided into external debt and internal debt. The external debt is catalogued by five areas: commercial debt, made to foreign banks, multilateral (to international institutions, such as the IMF and the World Bank), bilateral (State to State), suppliers and subscribers of Eurobonds.
Regarding the sale of Treasury Bonds (OT) and the issuance of Eurobonds, Ottoniel dos Santos said that these operations 'do not have a direct relationship with debt service,' as the country issues OT in the national market for investors who are operating in Angolan territory.
On the occasion, the Secretary of State also recalled that, in the period from 2014 to 2017, the country recorded the biggest economic recession in its history, given the multiple and successive shocks in a single period.
Faced with this scenario, he recalled, the Government made a diagnosis of Angola's economic framework and designed a plan that created the basis for the start of reforms, in 2018, with the Macroeconomic Stabilization Plan.
Subsequently, he said, a numerical debt rule was established, defining a continuous and systematic reduction of debt to levels equal to or less than 60% of GDP in the medium term, having reduced the debt ratio to a level of 66.1% of GDP during the reform.
As for revenue collection, Ottoniel dos Santos said that, in 2024, it is expected to collect more than 17 billion kwanzas, 59% of which is oil revenue.
The 26th thematic session, which today addressed the theme 'Public Finance Reform and Sustainability Programme', is promoted by the Ministry of Telecommunications, Information Technologies and Social Communication (MINTTICS), within the scope of the Executive's programme to strengthen the relationship with citizens. HM/QCB/DOJ
