Angola's public debt increased by 20% in the second quarter of 2026 compared to the same period of the previous year, the National Assembly today approved budget implementation with recommendations to the Executive.
© Reuters
09/11/2026
by
Lusa
A angola's public debt increased 20% in the second quarter of 2026 compared to the same period of the previous year, revealed the National Assembly that today approved budget implementation with recommendations to the Executive.
The Angolan Parliament approved on Monday the report on the implementation of the General Budget of the State (OGE) for the second quarter of the year, with 30 votes in favour and 10 against.
In view of the figures presented, the Working Committees Specialists recommended prudent management of public debt, strengthening the supervision of public investment projects and greater transparency in the dissemination of the effects of oil price fluctuations on state revenues.
In a note released on official channels, the National Assembly explains that ‘the report shows that public debt reached around 70.24 billion kwanzas (EUR 68.29 billion) at the end of the second quarter’.
This figure represents a ‘ 7% increase over the first quarter of 2026 and a 20% increase over the previous year’, according to the document.
The Executive's accounts also show 'a budget deficit of EUR 396.3 billion (EUR 385.3 million) resulting from revenue of EUR 9.8 billion (EUR 9.53 billion) and expenditure of EUR 10.2 billion (about EUR 10 billion).
Parliament stressed that 'budget execution took place in the context of accumulated inflation of 4.32% and an average oil production of 1.042 million barrels per day, below the target of 1.05 million barrels per day set out in the OGE 2026'.
'Despite this performance, the oil revenue grew by 20.76% compared to the annual period, reaching 40.53% of the annual budgeted figure', he adds.
The report also shows that the State’s financial burdens “absorbed 55% of the total, while the social sector received 16%”.
In the second quarter, the implementation of public investment programmes, namely the Local Development and Combating Poverty Programme and the Administrative Decentralisation and Decentralisation Programme, stood at 3.32% of the budget allocation and 2.22% respectively.
The Angolan National Assembly also approved, on Monday, in the specialty, the Joint Opinion Report on the Proposal for a Law approving the Code of Income Tax for Collective Persons (IRPC), with 29 votes in favour and six abstentions.
The law now goes on to the overall final vote and introduces changes to the corporate tax regime, with emphasis on reducing tax rates, extending the tax base and strengthening tax justice and efficiency.
One of the main changes envisaged is the reduction of the general rate of the IRPC from 25% to 20%, while for the banking, insurance, telecommunications and oil sectors, the rate goes from 35% to 30%.
On the other hand, companies in the education and health sectors benefit from a 10% rate, as provided for in the diploma.