Africa-Press – Angola. The province of Cuanza-Norte expects to raise more than five billion and 380 million kwanzas this year for the General State Budget (OGE).
The amount represents an increase of more than two billion and 197 million kwanzas, corresponding to 69.04 percent, compared to the previous year, when three billion and 182 million, 751 thousand and 485 kwanzas were raised.
Of the amounts collected, through own resources, three billion, 20 million, 357 thousand and 694 kwanzas resulted from tax revenue and 118 million, 930 thousand and 909 kwanzas from local and community services.
The data is contained in a report from the Government of Cuanza-Norte on the operationalization of the Province’s Annual Development Plan, in light of the OGE 2024, Tuesday, in Ndalatando.
According to the document, the amount to be collected covers eight percent of the total expenses planned for this year, estimated at 67 billion, 87 million, 618 thousand and 840 kwanzas.
To this amount, tax revenues, with a predicted increase of 33.06 percent, will contribute four million, 18 million, 900 thousand and 193 kwanzas.
Revenue from local and community services is estimated at a collection of one billion, 361 million, 320 thousand and 364 kwanzas, representing an increase of 1,044.63 percent.
OGE/2024 was approved by the plenary of the National Assembly on December 13, 2023 and began to be implemented on January 3, after publication in the Official Gazette.
He allocated, to Cuanza Norte, a financial share estimated at 67 billion, 87 million, 618 thousand and 840 Kwanzas.
The budget of the province of Cuanza-Norte for 2024 benefited from an approved increase of nine billion, 95 million, 176 thousand and 730 Kwanzas, compared to the previous year in which it was contemplated with 57 billion, 992 million, 442 thousand and 110 kwanzas.
According to the document, despite the general increase seen in Cuanza Norte’s budget forecast, for this year, the province suffered a reduction in the value of capital expenditure, of four billion, 461 million, 436 thousand and 13 kwanzas, leaving the current 16 billion, 121 million, 750 thousand and 672 kwanzas for the 11 billion, 660 million, 314 thousand and 659 kwanzas.
It also adds that this reduction has implications for the loss of benefits from financial resources essential for making investments in infrastructure necessary to improve the quality of life of the local population.
Of the budget’s overall financial volume, 82.62 percent is intended for current expenditure (personnel and goods and services) and 17.38 percent for capital expenditure.
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