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Friday 27 November 2020

CURRENCY FLOW RISES MORE THAN USD 139 MILLION

 Angola recorded an inflow of foreign exchange estimated at 139.7 million this week, according to the Secretary of State for Planning, Milton Reis.

MILTON REIS, SECRETÁRIO DE ESTADO PARA O PLANEAMENTO

The official said USD 105.3 million concern the Single Treasury Account, that is, the collection of petroleum taxes and the issuance of foreign currency bonds.

The official, who was speaking at usual briefing on the progress of the national economy, said that another USD 34.3 million corresponds to operations by the National Bank of Angola (BNA).

The latter values, he clarified, have to do with the purchase of foreign exchange and deposit interest.

On the other hand, the Secretary of State, Milton Reis explained that in terms of project execution levels, the Development and Welfare axis reached 74.8%, Sustainable, Diversified and Inclusive Economic Development 65.6% and the Infrastructure and Development 69.7%.

The axis on Peace building, Democratic and Law Strengthening, Good Governance, State Reform and Decentralization had an execution of 80%.

Harmonious Development of the territory stands at 52.7% and the Guarantee of Territorial Stability of Angola and Strengthening of its role in regional integration with 29.2%.

As for the main commodities, in average terms, the price of Brent was higher this week, compared to the previous one, standing at 42.21%, against 43.22% having justified that it was due to the optimism of the vaccine against Covid-19 and the prospect of extending the agreement to cut oil production by around 7.7 million barrels / day from OPEC and OPP +.

As for futures prices, Brent recorded an appreciation of 5.1%, compared to last week, standing at USD 44.96 / barrel, with the performance of Angolan stocks that registered an increase of 5.79 percent when moving to USD 44.55 / barrel.

While natural gas decreased to USD 2.6 / cubic meter, due to the increase in production in the market, influenced by China and the United States of America, which are the biggest consumers of gas.

The price of gold, on the other hand, registered an average increase of 0.3 per cent, compared to the previous week, standing at USD 880 / ounce, justified by the excess demand for the purpose of reserving value, following the announcements about the levels effectiveness of the Covid-19 vaccine.

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