Luanda — Angola recorded a decrease of about 27 percent in foreign exchange earnings from the oil sector in the first quarter this year, according to Angola National Bank (BNA) governor, José de Lima Massano.
According to Lima Massano, 95 percent of the foreign exchange earnings the country generates come from the oil sector.
Lima Massano attributed the decline in foreign exchange earnings to the current state of the world oil market, ie the combined effect of price and quantity.
Still, he went on, the commercial banks invested during this period about USD 3 billion during auction sessions with the BNA and the purchases they began to make directly from the oil sector and from other customers areas, of which almost 50% for the purchase goods.
He clarified that, under the terms of the BNA law, 60 percent of the results were in the form of dividends paid to the National Treasury.
