Africa-Press – Angola. Deputies to the National Assembly (AN) vote this Wednesday (15), in general, on the General State Budget Proposal (OGE) for the 2024 economic year.
The parliamentary groups, in accordance with the Rules of Procedure, will present, at the 1st Ordinary Plenary Meeting of the 2nd Legislative Session of the V Legislature, their political declarations.
The proposed General State Budget (OGE) for 2024, which foresees a salary increase in the public sector of around 5 percent, includes estimated revenues of 24 billion Kwanzas and expenses set at the same amount.
The economic projections for the next financial year were calculated based on an average price per barrel of oil of USD 65.00 and an average daily oil production of 1 million and sixty thousand barrels.
The Minister of Finance, Vera Daves, recently revealed that the preparation of the proposal for the General State Budget for 2024 (OGE 2024) responded to “a mix of realism and conservatism” and more capacity to address the challenges” still necessary even in the social area.
According to Vera Daves, the proposal also increases the Ministry of Agriculture’s budget by 80 percent, as a strong sign of its commitment to agribusiness and food security.
Vera Daves de Sousa highlighted that the Government forecasts growth of 2.8 percent in 2024, essentially anchored by the non-oil sector, which is expected to grow 4.6 percent and a decrease in the oil sector with 2.6 percent.
Regarding the fiscal balance, the Government predicts a surplus of 0.02 percent, around 17.5 billion kwanzas, seeking throughout the 2024 financial year to create a combination of internal and external sources of financing, anticipating that the internal market should be preferential, “without prejudice to the financing lines that are already contracted and new disbursements from these lines are interpreted as revenue from external financing”.
However, deputy Manuel da Fonseca, from UNITA, understands that the budget proposed by the Executive “still does not satisfy the national economy, which continues to be anchored to oil”.
The General State Budget (OGE) is the main instrument of the economic and financial policy of the Angolan State which, expressed in terms of values, for a defined period, demonstrates the action plan to be carried out and determines the sources of financing.
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