The measurement of budgetary operations in highly distorted economies : the case of Angola

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The measurement of budgetary operations in highly distorted economies : the case of Angola, Volume 1

Author:	Elbirt, Carlos;	Collection Title:	Policy, Research, and External Affairs working paper ; no. WPS 497
Country:	Angola;	Date Stored:	1990/08/01
Document Date:	1990/08/31	Document Type:	Policy Research Working Paper
Language:	English	Major Sector:	Public Administration, Law, and Justice
Region:	Africa	Report Number:	WPS497
Sub Sectors:	Other Public Sector Management	SubTopics:	Environmental Economics & Policies; Economic Theory & Research; Economic Stabilization; Markets and Market Access; Public Sector Economics
Volume No:	1

Summary: In a highly distorted economy such as Angola's, budget accounts can be misleading - because prices in the parallel market, including the exchange rate, represent up to 100 times official prices. Parallel prices are the real opportunity costs for consumers and guide them in their decisions. The government collects its taxes and pays its expenses in two currencies: Kwanzas that have attached buying rights, such as access to hard currencies or goods, and Kwanzas which have to be used in the parallel market. This paper also discusses the impact policy adjustment would have on the budget deficit.


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