Africa-Press – Angola. The change in the proposed 2026 State Budget, marked by a greater contribution from the non-oil sector, is mainly due to the constant drop in the price of oil on the international market, which decreased by about 8% during the third quarter of this year, according to the Minister of State for Economic Coordination, José de Lima Massano.
When answering some questions asked by deputies, during the meeting that the real economy sector and the Government’s economic team held, this Thursday, with the specialized committees of the National Assembly, the government official recalled that the non-oil sector currently contributes around 80% to the national Gross Domestic Product (GDP).
According to the Minister of State, “these are not just thrown numbers or percentages”, but rather findings based on the work of the National Statistics Institute (INE).
“We seek to bring a budget with a strong dose of realism, so that we can guarantee the execution of the programs contained in the National Development Plan”, he explained.
He added that this dynamic of the economy is also evident in national accounts and in the General State Account itself.
According to the government official, the non-oil sector is the one that adds the most value, from a social point of view, which is why he defended its continued stimulation, especially in favor of guaranteeing food security in the country.
Despite the evolution of this segment, José de Lima Massano recognized that oil is still relevant and strategic for the national economy, as it is responsible for 90% of export revenue.
The Government expects the non-oil sector to make a significant contribution to the 2026 OGE, surpassing revenues from oil for the first time.
Other combined factors that dictated this change in the budget structure also include the strengthening of economic diversification and the reduction of dependence on oil, with the non-oil sector representing the country’s main source of revenue.
The meeting between the real economy sector and parliamentarians brought together deputies from all specialty committees of the National Assembly, ministers and secretaries of State.
This Friday (28) a meeting is planned between deputies and representatives of the defense and security sector, within the scope of the OGE/2026 proposal.
Prepared based on the average price of a barrel of oil at 61 dollars, the OGE/2026 Proposal sets public revenues and expenses at 33 billion kwanzas and will be the first in which non-oil revenues will exceed oil revenues.
The instrument, which has already passed the “screening” of parliamentarians in general, includes, among other measures, the exemption from paying Labor Income Tax (IRT) to workers with salaries of up to 150 thousand kwanzas, with a view to protecting the income of families and workers with this salary limit.
It also provides for a salary increase of around 10% for Public Service workers in Angola, a measure that aims to value public servants and adapt salaries to the current economic context.
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