Flash Note nº02

Dear subscriber [name],

We are sending our most recent Flash Note.

Highlights:

The State Budget for 2024, approved by the National Assembly on December 13, foresees budget revenues of AOA 14.7 trillion (T) and budgeted expenditures of AOA 14.7T;
As for the Government's macroeconomic scenario, it anticipates economic growth only on the side of the non-oil economy;
The Executive forecasts a zero budget balance, 0.0% of GDP, while the BFA forecasts a positive budget balance, between 4.0%-4.5% of GDP
Although at first glance it points to a conservative budget, as has been the habit of the Ministry of Finance, the execution of the financial component leads us to take a very cautious perspective.

Best regards,
BFA

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