Luanda - Budget execution in the first and second quarters of 2024, whose reports were approved on Thursday by parliament, recorded a surplus of 504 billion kwanzas and a positive current balance of 2.41 trillion.
Presenting the reports for the two quarters to MPs, the Secretary of State for Finance and Treasury, Ottoniel dos Santos, said that the budget balance generated a deficit in the first quarter of 318 billion kwanzas and a positive current balance of around 1.29 trillion kwanzas.
In the second quarter, there was, contrary to the first, a surplus of around 823 billion kwanzas in terms of budget execution and a current positive balance of 1.12 billion kwanzas.
He said that the execution was based on an oil price of around US$81 per barrel in the first quarter and US$85 in the second, contrary to what was initially foreseen in the General State Budget, in the order of US$65.
He detailed that there was a production in the first quarter of 1.12 million barrels/day, and 1.1 million barrels/day in the second quarter.
According to the Secretary of State, there was accumulated inflation of 7.8% in the first quarter and 15.72% in the second.
From the point of view of movements throughout the execution, current revenues of around 7.16 billion kwanzas were collected, where oil revenue stands out with a total, in the two quarters, of 4.5 billion kwanzas, for the concessionaire.
The companies had revenues of 582 billion kwanzas and 914 billion kwanzas in the two quarters, respectively.
Regarding other revenues, equity revenues stand at 184 billion kwanzas, making up 48% of what was in execution compared to the provisions of the State Budget.
Ottoniel dos Santos said that capital revenues stood at 1.8 billion kwanzas.
As for the expenses incurred in the period, he specified that 56% were current expenses and 44% were capital.
Current expenses consumed, in the sum of the two periods, a total of 4.74 billion kwanzas, where personnel expenses stand out with a total of 1.47 billion kwanzas.
Capital expenditure totaled 3.77 billion kwanzas, while interest expenditure on debt service stood at around 1.67 trillion kwanzas.
With this, the grand total of expenses in the first and second quarter is 8.52 billion Kwanzas.
Debt
Regarding the annual debt plan, in the first and second quarters, with regard to domestic debt, there were issues of around 3.01 billion Kwanzas.
With regard to the external debt, the State had a disbursement, without commitment to oil, in the order of 1.10 billion kwanzas.
The debt service paid in the period is distributed in a total of 2.85 billion Kwanzas.
The the Secretary of State informed that the debt stock, in this period, stood at 55.96 billion kwanzas, in the first half of the year, 96% of which was government debt, and 4% from public companies.
In relation to the second quarter, the stock stood at 54.40 billion kwanzas. ART/DOJ
