Angola’s public debt escalated from 34.3 bln kwanzas in December 2022 to 53.1 bln kwanzas by December 2023, driven by the local currency’s depreciation. The government reported a fiscal deficit of 2.2% of GDP and a primary surplus of 4.3% in 2023. Plans are underway to revitalize economic growth, particularly in the non-oil sectors, to mitigate a 3.2% contraction expected in the oil and gas sector, with an overall growth forecast of about 3%.