Huambo: The Angolan government has earmarked 400 billion kwanzas in this year’s budget to settle overdue public debts, amounting to 20 percent of the nation’s total debt, which stands at 3 trillion kwanzas. This announcement was made by the Secretary of State for Finance and Treasury, Ottoniel dos Santos, during a meeting held in the central province of Huambo.
According to Angola Press News Agency, Ottoniel dos Santos highlighted that the overdue and certified public debts pertain to the period between 2013 and 2019. Nearly 3 trillion kwanzas of debt has already been certified, with additional processes underway at the General Inspectorate of State Administration (IGAE) for further debt certifications.
The Secretary of State emphasized the government’s strategy to judiciously manage these financial resources, considering the constraints of time and debt value, to reach as many creditors as possible. Dos Santos also expressed concern over the impact of these debts on the local market, particularly affecting entrepreneurs and the business community.