Angola plans to cut 2015 budget oil price to $40/bbl

 Angola's cabinet has asked parliament to revise down the oil price assumption in the 2015 budget to $40 per barrel from its earlier projection of $81 per barrel, due to tumbling crude prices, the finance ministry said.

The oil price assumption cut would slash $14 billion from the budget, said a statement by the finance ministry seen by Reuters on Monday.

The national assembly has until the end of next month to approve the changes, the ministry said.