Finance Ministry Predicts Angolan Production Decline

Tuesday, December 19, 2017

The latest data in Angola’s budget from the Ministry of Finance has the country’s mainstay revenue generator, oil production, declining by 36% by 2023.

“The reality of the oil sector will be characterized by a situation of declining production in the coming years due to the various constraints oil companies have encountered to develop their activities,” the draft 2018 state budget posted on the Finance Ministry’s website said.

The budget was presented to parliament on December 15 and members of parliament have until February 15 to approve it.

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