Angola's Non-Oil Revenue to Surpass Oil Take for First Time in 2026, Minister Says
Angola's Non-Oil Revenue to Surpass Oil Take for First Time in 2026, Minister Says
This forecast comes as the government broadens its tax base, Finance Minister Vera Daves de Sousa announced Monday at an economic forum in Luanda.
Key points:
🟠Non-oil revenue is forecast at 10.6 trillion kwanzas ($11.4 billion), or 7.8% of GDP, compared to 7.5 trillion kwanzas ($8 billion), or 5.5% of GDP, from petroleum.
🟠"We are bringing into the system those who were operating on the margins," De Sousa said, referring to efforts to formalize parts of the economy previously outside the tax net.
🟠Oil has long dominated Angola's finances, historically accounting for roughly two-thirds of government revenue and nearly all foreign currency earnings.
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