Luanda:The National Assembly is convening its second extraordinary session to discuss and conduct a general vote on the 2027 General State Budget (OGE) Bill, which is valued at 37.34 trillion kwanzas (USD 1 = Kz 912).
According to Angola Press News Agency, the session's agenda begins with political statements as stipulated by the institution's Rules of Procedure. The budget proposal, submitted on October 30 by the Minister of State for Economic Coordination, José de Lima Massano, on behalf of the Executive branch, was received by the National Assembly Speaker.
The proposed budget forecasts an economic growth rate of 5.5 percent and marks an increase of approximately 4.1 trillion kwanzas from the current budget. It aims to preserve macroeconomic stability, bolster public investment, protect household purchasing power, and accelerate economic diversification, particularly focusing on the non-oil sector.
The Executive projects a 7.1 percent growth in the oil sector and plans to continue efforts to reduce inflation to safeguard household incomes. Public investment will continue in sectors including road transport, energy, water, and education, with a highlight on the 'My School, My Future' program, which seeks to expand access to regular education for children.
Gross financing needs are estimated at around 15.5 trillion kwanzas. José de Lima Massano noted that an increase in oil prices beyond the budget's benchmark could help lessen the State's borrowing needs. The proposal also includes financial resources for the 2027 general elections, ensuring conditions of normality, security, and tranquility during the electoral process.
The debate and general vote are part of the parliamentary review process for the State Budget, which will be followed by detailed review and final voting stages.
