Africa-Press – Angola. The Angolan government assures that there is no risk of delay in the payment of salaries in the public sector, even with the current fall in the price of oil on international markets.
Speaking to the Angolan press in Washington, USA, the Minister of Finance assured that several scenarios are being analyzed to avoid any negative impact on public finances.
The Government still considers it premature to move forward with a possible review of the 2025 General State Budget, despite the devaluation of the barrel of oil, which is currently at 66.69 dollars, that is, 3.41 dollars below the average reference price defined in this year’s OGE.
Vera Daves stated that the Executive is currently working on a “solution that has already begun to be designed with the World Bank”, with “a type of insurance that helps to cover part of the risk associated with the volatility of the price of oil on the table, according to the Finance Minister, and the Government will, in due course, decide whether to move forward partially or fully with this solution”.
Vera Daves also assured the National Radio of Angola that “there is no risk of delay in the payment of public sector salaries.
The General State Budget for 2025, valued at 34.6 trillion kwanzas (around 27.5 billion dollars), was prepared based on an oil price of 70 US dollars and an oil production of 1,098 thousand barrels/day.
On Thursday, the Government announced that Angola collected 6.4 billion US dollars from the export of 85.1 million barrels of oil in the first quarter of 2025, which represented an 18% reduction in revenue compared to the first quarter of last year.
Regarding export volume, a decrease of 13.5% was recorded compared to the last three months of last year and 9.8% compared to the same period in 2024.
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