Crisis, What Crisis in Angola?
As Angola’s economic crisis deepens, the country’s president has given priority to the construction of a war memorial at an estimated cost of US $72 million, and a further US $73 million going to a phantom category of “non-specific religious affairs and services”. These projects fall under the Office of Special Works of the Presidency of the Republic. Both expenditures are part of the revised 2015 budget, passed by the National Assembly on March 20, which was slashed by 25 percent (over US $17 billion) – including cuts in the salaries of civil servants. Despite the reduction of the budget due to the fall in oil prices, the president’s set of priorities are baffling. Oil accounts for approximately 95 percent of Angola’s total exports, and its economy is mono-dependent on this commodity. For instance, the largest state-funded religious project, the construction of the Sanctuary of Muxima for the Catholic Church, […]Read more