In final press remarks following the Spring Meetings in Washington, Angola's Ministry of Finance set out how a new World Bank financing operation is intended to help the government pay down higher-cost debt and redirect savings toward education, alongside reforms in public financial management and taxation. Supporting this approach, the minister pointed to ongoing system integration reforms and legislation under discussion in the National Assembly to implement a unified version of value added tax (VAT) and define the tax regime for companies and households. She also highlighted plans to expand water supply, including the World Bank-supported Provita project in Huíla, while identifying sanitation as the main challenge and noting further institutional work is needed to design and implement initiatives. On the external outlook, the economic team is preparing an assessment of how different oil price levels could affect fiscal capacity, including scenarios where the projected budget deficit narrows or shifts to a surplus; fuel costs are expected to continue being offset by potential tax revenues that, under normal circumstances, would come from Sonangol. The minister also linked the General Tax Administration’s recent notification of illicit practices to strengthened internal controls and technology-enabled detection, with cases to continue being referred to investigative authorities. National Bank of Angola Governor Manuel Tiago Dias reiterated the medium-term disinflation objective, citing a 2026 inflation target of 13.5% and inflation of 12.4% as at March. The oil-price impact assessment is expected to be completed in the coming days. The briefing also covered the announced creation of a Network of Central Banks of Portuguese-speaking Countries to deepen cooperation through experience-sharing and joint studies, and the need to translate commitments made in Washington into domestic outcomes such as job creation, support for private business including the Lobito Corridor, and infrastructure improvements.
Ministry of Finance (Angola) 2026-04-18
Angola's Ministry of Finance outlines World Bank financing operation to refinance debt and support education
Angola’s Ministry of Finance detailed how new World Bank financing will help repay higher-cost debt, redirect savings to education, and advance public financial management and tax reforms, including a unified VAT and clearer regimes for companies and households. The minister cited ongoing system integration, infrastructure plans such as the Provita water project, stronger tax administration controls, and an upcoming oil price impact assessment, while the central bank governor reaffirmed a 2026 inflation target of 13.5%.