Africa Angola Economy Export Finance Oil

Angola’s public debt to exceed 70 percent of GDP by year-end: IMF

Angola’s public debt is expected to exceed 70 percent of GDP by the end of this year, although government efforts to control spending have partially offset the impact of lower oil prices, the International Monetary Fund said on Wednesday.

In a statement issued after an IMF team met with government officials, the fund said the government should target an overall budget deficit of no more than 2.25 percent of gross domestic produce in 2017.

Source: Reuters Africa

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