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This Selected Issues paper explores development planning, sustainable development goals (SDG) progress, and fiscal space in Angola. Economic diversification and poverty reduction in Angola will require more and better-quality spending on human and physical capital and, thus, greater fiscal space. Spending in these areas has historically been lower relative to lower middle-income country peers, although broadly in line with other SSA countries, and with weak outcomes. Boosting human and physical capital with the goal of economic diversification and poverty reduction in mind will likely be a primary focus of the authorities’ 2023-27 National Development Plan. This paper finds that achieving those goals, as benchmarked by the SDGs, will entail greater and more targeted investment, with the largest spending needs falling around education and health. As such, creating additional fiscal space, following through on the structural fiscal reform agenda, and attracting private investment will all be critical components of improving the level and quality of development spending in Angola.

Money and Monetary Policy --- International Economics --- Public Finance --- Sustainable Development --- Demography --- Banks and Banking --- Monetary Policy --- International Agreements and Observance --- International Organizations --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- National Government Expenditures and Health --- Demographic Economics: General --- National Government Expenditures and Related Policies: General --- Monetary economics --- International institutions --- Public finance & taxation --- Development economics & emerging economies --- Population & demography --- Financial services law & regulation --- Monetary policy --- International organization --- Credit --- Money --- Sustainable Development Goals (SDG) --- Development --- Health care spending --- Expenditure --- Population and demographics --- Total expenditures --- International agencies --- Expenditures, Public --- Sustainable development --- Population --- Financial risk management --- Angola

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This note provides a technical overview and description of the 3rd edition of the IMF SDG costing tool that estimates the additional spending needs to achieve a strong performance in selected SDGs for human capital development (health and education) and physical capital development (infrastructure), in particular, water and sanitation, electricity, and roads. The 3rd edition includes data and methodological updates to, but generally remains faithful to the original approach described in, Gaspar et al. (2019). Globally, additional spending needed to achieve a strong performance in the selected SDGs in 2030 amounts to US$3.0 trillion (3.4 percent of 2030 world GDP). Estimated at 16.1 percent of 2030 LIDC GDP, the average additional SDG cost of this income group is significantly higher than in EMEs, who face additional spending amounting to 4.8 percentage points of their GDP in 2030. In contrast to EMEs and LIDCs, the additional cost for AEs is low, under 0.2 percent of their 2030 GDP.

Capacity --- Capital --- Currency crises --- Demographic Economics: General --- Demography --- Development economics & emerging economies --- Development --- Economic & financial crises & disasters --- Economic sectors --- Economics of specific sectors --- Economics --- Economics: General --- Expenditure --- Expenditures, Public --- Financial crises --- Health care spending --- Health economics --- Health --- Health: General --- Informal sector --- Infrastructure --- Intangible Capital --- Investment --- Macroeconomic Analyses of Economic Development --- Macroeconomics --- National accounts --- National Government Expenditures and Health --- National Government Expenditures and Related Policies --- Population & demography --- Population and demographics --- Population --- Public finance & taxation --- Public Finance --- Saving and investment --- Sustainable Development Goals (SDG) --- Sustainable Development --- Sustainable development