Angola vows to safeguard economic stability
Xinhua, February 7, 2015 Adjust font size:
The Angolan cabinet has decided to maintain stability in general level of prices, control and keep the level of international reserves and reduce public spending for the year of 2015 as the country started to feel the pinch of the falling international oil prices.
The cabinet approved the state budget revision and a macroeconomic program for the year 2015 during a meeting on Friday which was chaired by President Jose Eduardo dos Santos.
The cabinet meeting decided to ensure the normal functioning of the public administration, health and education services and to guarantee supplies of national police, the Angolan armed forces, security services and assistance and social protection, according to a press release issued after the meeting.
The meeting decided to meet the minimum needs of the 54 social sector programs in the light of state budget for 2015 and offer incentive for the increase in non-oil revenues.
The strategy comprised measures aimed at speeding up the diversification of the oil-dependent national economy, keep the pace of economic growth, the renegotiation of existing debt agreements and negotiating new deals as the cabinet approved the state budget revision for 2015 and decided to submit it for approval at the national assembly. Endi