Angola

Angola: Cabinet analyses country's socio-economic life

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Luanda, Feb 19 - Angola's Cabinet Council Standing Commission is analyzing today in Luanda aspects connected with the country's social and economic life.

The meeting, taking place in the Presidential Palace, is being presided over by Angolan head of State, Jose Eduardo dos Santos.

At its latest meeting, the Standing Commission concluded that the year 2002 was bad, in terms of the country's macro-economic situation, characterized by a fiscal deficit of 8.5 percent of the Gross Domestic Product (GDP).

The commission is also to analyze the existing disparity between the official exchange rate and the so-called "Parallel Exchange Rate" which is an unofficial rate practiced in the streets. (Source: ANGOP)