Angola, in a financial down-turn with the low price of oil, has put itself further into debt.
Vice-president, Manuel Vicente, when presenting the annual state of the nation address on Thursday, told members of parliament that the country has taken on loans worth the equivalent of almost R78.5 billion in China.
These are aimed at public investment in education, health, water, electricity and roads – with projects planned to get underway in 2016/17.
According to a macauhub report, the speech also disclosed that the value of Angola’s public debt amounts to about 45.8% of gross domestic product (GDP) projected for 2015.
It also noted a downward revision of the GDP growth forecast to 4%, compared with the previous 6.6% indicated in the 2015 general state budget, revised in March.
