Luanda – The Angolan government’s debt ratio until July of this year reached 67.2% of the Gross Domestic Product (GDP), the Head of State, João Lourenço, said Tuesday in Luanda Province.
He was speaking at the opening of the 3rd Legislative Session of the 5th Legislature, during his Message on the State of the Nation, highlighting that this number confirms the trend towards responsible public debt.
President João Lourenço added that the public debt valued at 55.39 billion kwanzas, in 2023, continues to be a sustained debt and Angola has been able to honour its commitments.
According to the country’s Chief Magistrate, financing conditions and the effect of the exchange rate led to an increase in the public sector ratio, reaching 88% of GDP in 2023, contradicting the downward trajectory that the country had been taking until 2022, when the debt to GDP ratio reached 69.9%.
João Lourenço considered that the adversities and uncertainties from abroad and the internal challenges to the country's public finances remain solid and resilient.
ASS/VC/MRA/jmc
