The data are from the General State Budget Execution Report for the first quarter of 2025 and show the stock of public debt — which includes government debt and public enterprise debt — as of 31 March 2025.
The report, dated last week, highlights the growing weight of external public debt operations, with financial charges accounting for the largest share of public expenditure in the quarter, of 3.24 trillion kwanzas (approximately €3.17 billion), of which 1.87 trillion relates to external debt (around €1.83 billion), an increase of 127% compared to the same period last year, demonstrating the pressure of debt servicing on public finances.
Revenues of 6.12 billion kwanzas (approximately €5.99 billion) were collected and expenditures of 6.61 billion kwanzas (approximately €6.47 billion) were made, which means that the quarter ended with a budget deficit of 489.36 billion kwanzas (approximately €479.08 million).
The main social sectors performed below average, despite having the second largest share of the state budget, executing only 20% of the budgeted amount. Among them, education and health did not exceed 12% and 16% of execution, respectively. On the other hand, the defence and security sector stood out, executing 34% of the allocated budget.
The document also reveals a significant drop in diamond production volume and price per carat (the average price fell from $351.65 to $98.70) compared to the previous quarter, reflecting a 36% decline in diamond revenues.
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