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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Angola Cuts 2016 Spending by 20%

Posted on 15 March 2016

Angola, facing economic and political pressures, has cut spending under its 2016 budget by 20% and is reassuring international investors it can cope with persistently low oil prices, Finance Minister Armando Manuel said Monday.
Manuel declined to comment on speculation that Mr. dos Santos could push for his son, José Filomeno de Sousa dos Santos, the head of Angola’s sovereign-wealth fund, or his daughter, business magnate Isabel dos Santos, to take over………………………………………..Full Article: Source


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