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Angola's Economy Set to Slow as Oil Prices Collapse

Angola's oil-dependent economy is set to slow this year, key infrastructure projects will be shelved and swaths of social spending are facing the chop as a global crude price slump takes its toll on Africa's second-biggest producer. Angola's cabinet last week sent a revised 2015 budget to parliament, cutting the assumed oil price to $40 a barrel, from $81 previously projected, and slashing $14 billion off planned spending, the finance ministry said. The government's...

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