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Angola's draft spending plan forecasts 2025 deficit of 1.65%/ GDP.

Angola's federal government prepares for a budget deficit of 1.65% of gdp ( GDP) in 2025, somewhat greater than this year's forecasted 1.46%. deficit, draft budget plan files revealed.

The draft 2025 budget of Africa's second-largest petroleum. exporter is based upon a $70 a barrel oil rate, according to the. documents published on the financing ministry's website. Brent crude. futures were trading around $74 a barrel on Friday.

Angola's finance minister Vera Daves de Sousa told Reuters. in an interview last week that the possibility of lower oil rates. was putting a lot of pressure on the southern African nation.

The draft spending plan also sees financial development speeding up to. 4.1% next year from 3.3% this year, with faster growth forecasted. for non-oil sectors.

The finance ministry estimates that yearly inflation will. end next year at 16.6%, from over 29% presently.

Daves de Sousa informed Reuters last week that Angola was. thinking about asking for a financing program from the. International Monetary Fund.

Its most recent IMF program was for $3.7 billion, authorized. in 2018 after international crude prices tanked, annihilating the. country's earnings.

(source: Reuters)