Luanda: President Joo Lourenço announced on Wednesday that the public debt ratio in Angola has significantly decreased, falling from 115.9% of Gross Domestic Product (GDP) in 2020 to 55.5% in 2024. The Head of State made the announcement during his State of the Nation address, underlining that this reduction is below the 60% ratio defined by international institutions.

According to Angola Press News Agency, Joo Lourenço said this result is due to a prudent debt management strategy that prioritizes diversifying financing sources, obtaining debt service relief through extending average maturity terms and renegotiating contractual terms, and maintaining fiscal discipline.

As of July of this year, Angola’s public debt-to-GDP ratio was estimated at approximately 58 billion U.S. dollars, demonstrating a continuous and positive reduction that ensures the sustainability of the country’s public finances, according to data from the Finance Ministry.

By the end of 2024, Angola’s debt totaled approximately 60 billion
U.S. dollars. This figure has since fallen to less than 60% of GDP due to measures implemented by the Angolan government. The current figure includes domestic debt, expected to be at least 11 billion US dollars, and external debt, which accounts for most of the total debt.