Angola cuts 2015 budget to $52 bln after oil drop

By Joe Brock JOHANNESBURG (Reuters) - Angola's cabinet has cut proposed 2015 budget spending by 1.8 trillion kwanza ($17 billion) to 5.4 trillion kwanza after slashing expected oil revenues, the Angola News Agency (ANGOP) said late on Friday. The revised budget figures, based on an oil price of $40 per barrel rather than the $81 previously forecast, will need to be approved by parliament, which should be a formality given the ruling party's large majority. The revised plan forecasts a budget def