Angola debt service spending triples social sector expenditure in Q2 2026

In the second quarter of 2026, Angola's debt service expenditures were three times higher than spending on the social sector. According to a report from the Ministry of Finance, debt-related financial charges amounted to 5.70 trillion kwanzas (approximately 5.32 billion euros), representing 56% of all executed functional expenditure.

During the same period, the social sector—which encompasses education, health, social protection, housing, culture, and the environment—received 1.67 trillion kwanzas (1.56 billion euros), or 16% of total expenditure. Debt service costs grew by 123% compared to the same period in 2025, consuming 37% of the annual budget allocation, while social sector spending utilized only 20% of its annual budget.

External public debt operations accounted for the largest portion of financial charges at 3.92 trillion kwanzas. Total public debt rose to 70.24 trillion kwanzas by the end of June, a 7% increase from the previous quarter. Government debt comprised 94% of this total, with the remaining 6% attributed to state-owned enterprises Sonangol and TAAG.