Angola Projects Non-Oil Taxes to Surpass Oil Revenue in Historic 2026 Shift
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Angola expects non-oil tax revenue to surpass oil income in 2026 for the first time in decades, marking a pivotal diversification milestone, according to Finance Ministry projections cited by Bloomberg. Non-oil receipts are budgeted at 10.6 trillion kwanza ($11.4 billion), equivalent to 7.8% of GDP, outpacing petroleum despite production challenges.
The shift reflects sustained reforms including tax base broadening, VAT modernisation, and raising Personal Income Tax (IRT) exemption to 150,000 kwanza monthly for relief, alongside customs digitalisation boosting compliance and formalisation. Oil historically dominated 95% exports and over 60% fiscal revenue, leaving the economy exposed to price volatility.
2026 growth forecast at 4.17% hinges on non-oil expansion as primary driver, aligning with the 2023-2027 National Development Plan building fiscal resilience. Enhanced collection mechanisms target structural revenue growth beyond commodity cycles.
This fiscal pivot reduces vulnerability, positioning Angola for sustained stability amid global energy transitions.
