Angola - Draft General State Budget for 2024

On 31 October, the draft law approving the General State Budget (“GSB”) for 2024 was submitted to the Angolan National Assembly (parliament). 

This draft law contains a number of measures that could have a positive impact on companies. Growth in the non-oil sector is expected to be around 4.6% and overall growth in gross domestic product expected to be around 2.8%, given the decline in the oil sector.