Luanda – Oil and non-oil revenue reached 10.3 billion kwanzas until September this year- an increase of around 46% compared to the same period of 2021, and a budget execution degree of 100%.
Until September 2020 and 2021, oil and non-oil revenue rose from 5.05 billion kwanzas to 7.05 billion kwanzas, respectively, according to data released Wednesday by the General Tax Administration (AGT), in a meeting held with journalists.
In oil revenue alone, the Angolan State raised 7.07 billion kwanzas (69% more) up to September this year.
Until September 2020, the observed oil revenue was 2.9 billion kwanzas and in the same period of 2021, it rose to 4.1 billion kwanzas, when the price of crude gradually increased.
Non-oil revenue also rose by around 13%, standing at 3.3 billion kwanzas, up to September this year.
The source attributed the increase in non-oil revenue to the performance of the sectors of agriculture, fisheries, manufacturing industry, mining resources, among others.
Looking at the period under review, historically non-oil revenue rose from 2.1 billion kwanzas to 2.8 billion kwanzas by September 2020 and 2021, respectively.
By source of revenue, the volume of non-oil revenue, until September this year, is increased by the Value Added Tax (VAT) with 909.4 billion kwanzas (22%), the Industrial tax with 818.2 billion ( 15%), among others.
The meeting with journalists took place ahead of the commemoration of the 8th anniversary of the AGT on the December 15.
AGT is a State body, supervised by the Ministry of Finance, whose mission is to collect revenue for the State and ensure customs control for the benefit of society.
Source: Angola Press News Agency