12 °c
London
Monday, May 23, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Angola

Angola to achieve surplus in public accounts this year – Fitch Solutions

Rafael Carvalho by Rafael Carvalho
July 27, 2021
in Africa, Angola, Budget, Economy, FA, Finance, Government
Reading Time: 1 min read
800 25
0
A closer look into the Angolan Kwanza
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Consultancy firm Fitch Solutions estimates that Angola’s fiscal balance this year will go from deficit to surplus, mainly due to oil revenues, while seeing public debt below 100% of GDP in 2022.

“We now expect Angola’s budget balance to change from an estimated deficit of 1.4% of GDP in 2020 to a surplus of 0.7% in 2021, at the expense of an increase in oil revenues”, reads the analysis of the evolution of Angola’s public accounts.

In the document, Fitch’s analysts recall that “this is an upward revision compared to the previous forecast of a deficit of 0.4% in 2021, and reflects the view that higher tax revenues will offset an eventual rise in public spending.”

In this new scenario, Fitch Solutions foresees the surplus widening to 1.4% of GDP next year, driven by oil revenues, and also anticipates an improvement in public debt, which is expected to decline from 122% of GDP in 2020 to 106.8% this year and 97.8% in 2022.

“Angola’s debt burden will gradually fall with the economic recovery and fiscal consolidation, which in turn will help to limit financing needs,” analysts point out, concluding, however, that “the debt-to-GDP ratio will remain well above of an average of 57.4% recorded between 2010 and 2019”, not only due to the devaluation of the kwanza, but also due to the country’s continued indebtedness.

Also read: Angola on track for predicted oil sales in 2021

Related

Source: Lusa
Tags: AngolaAngola to achieve surplus in public accounts this year - Fitch Solutionsbudget balanceEconomyFinancefiscal balanceFitch SolutionsRafael Carvalhoанголаأنغولاアンゴラ安哥拉
ScanSendShare330Tweet206Share58Pin74Send
Rafael Carvalho

Rafael Carvalho

Currently the Managing Editor of furtherafrica.com, I am passionate about writing, in its myriad forms. As I started writing and editing content about Africa, I came to the realisation that, just like our ancestors hailed from the motherland, so is the future, too, very much African-oriented. Join me then, as we learn more about a future that is welcoming, multicultural and full of promise. The future that is Africa.

Related Posts

Environment

Rich nations offer debt guarantees on South African climate deal

by FurtherAfrica
May 23, 2022
Ethiopia energy access
Trade

South Sudan and Ethiopia sign 100MW electricity trade agreement

by Energy Capital & Power
May 23, 2022
Venture Capital

South African TooMuchWifi raised US$1M pre-series A funding

by TechGist Africa
May 23, 2022
Development

EU provides €3M+ for urban development in Mozambique

by Club of Mozambique
May 23, 2022
South African stocks hit near 7-month highs
Banking

South Africa Investec nearly doubles annual profit

by FurtherAfrica
May 23, 2022
Great Limpopo Transfrontier Park
 
AFSIC 2022
 
MozParks

Translate this page

Read the Latest

Environment

Rich nations offer debt guarantees on South African climate deal

by FurtherAfrica
May 23, 2022
0

A group of the world’s richest nations offered South Africa debt guarantees as part of a proposed $8.5 billion deal...

Read more
Ethiopia energy access

South Sudan and Ethiopia sign 100MW electricity trade agreement

May 23, 2022

South African TooMuchWifi raised US$1M pre-series A funding

May 23, 2022

EU provides €3M+ for urban development in Mozambique

May 23, 2022
South African stocks hit near 7-month highs

South Africa Investec nearly doubles annual profit

May 23, 2022

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?