Africa-Press – Angola. Angola’s General State Account (CGE) for the 2024 financial year, released on Wednesday, recorded a nominal surplus of 712.63 billion kwanzas, with expenditures totaling 24.59 billion kwanzas.
The 2024 General State Budget estimated revenues and expenditures of 24.72 trillion kwanzas, showing revenue collection of 25.31 trillion, with expenditures totaling 24.59 trillion kwanzas.
The national inflation rate at the end of 2024 was 27.05%, compared to 20.01% in 2023, while the exchange rate remained stable, remaining around 800 kwanza/USD for several months of the fiscal year.
Regarding the national situation, the national economy registered a growth rate of 4.4%, above the 1.3% observed in 2023, resulting from the increasingly robust performance of the economy in the first and second semesters of the fiscal year.
Regarding the unemployment rate, in 2024 there was a reduction in the rate to 30.4%, as a result of the impact of economic activity, with around 1 million jobs being created, including in the informal sector. According to the International Monetary Fund’s most recent analyses, published in the May 2025 World Economic Outlook, estimates indicate that global economic activity will have slowed in 2024, with GDP growing 3.3% compared to the 3.5% observed in 2023.
The price of Brent (the main benchmark for Angolan crude) remained at around USD 79.71 per barrel throughout the fiscal year, USD 14.71 above the value forecast (USD 65) in the 2024 General State Budget.
The monthly fluctuation throughout 2024 was mainly due to expectations surrounding a global economic slowdown, which contributed to weakening demand for the commodity and monetary policy tightening by central banks around the world to curb the pace of price acceleration.
The General State Account comprises the accounts of all bodies of the State’s Central and Local Administration, Public Services, Institutes, and Autonomous Funds, as well as Social Security and Sovereign Bodies.
The General State Account (CGE) is the set of financial statements, accounting, budgetary, and financial documents, and management performance reports corresponding to budgetary, financial, asset, and operational management, as well as the safekeeping of public assets and values.
In this sense, the General State Account (CGE) is the State’s main financial reporting document, representing the culmination of a budgetary cycle. Therefore, it must be submitted to the National Assembly each fiscal year, within the deadlines and conditions established by current regulations and legislation.
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