Africa-Press – Angola. The balance and stimulus measures to boost the national economy, contained in the speech on the State of the Nation, given by the President of the Republic, João Lourenço, marked the news on Desk Económico in the week ending today, Saturday.
When delivering the Message on the State of the Nation, at the Opening of the 2023-2024 Parliamentary Year of the V Legislature, the Head of State said that the objective is to increase national production, which is why the Government is committed to structural transformation, development and economic growth of the country.
The President of the Republic assured that he is working to ensure that public finances are performing well, in relation to the General State Budget (OGE) of 2022, with a positive global fiscal balance of 1.02% of the Gross Domestic Product (GDP) in result of revenue of 13.3 billion kwanzas (Kz) and tax expenditure of Kz 12.8 billion.
On the same occasion, the Head of State also revealed a positive primary balance of 5.3 percent of GDP and a non-oil primary balance of 9% of GDP.
He also highlighted, in his speech, that the country exported 395 million 992 thousand and 333 barrels of crude oil, which allowed it to obtain revenue of 40 billion 300 million 991 thousand and 588 US dollars, at an average price of USD 101,772/barrel, during the economic year 2022.
The amount of crude oil exported during this period exceeded that of 2021, in which the export of 394.22 million barrels of crude oil was recorded, resulting in revenue of 24.5 billion dollars.
He made it known that the Government will continue to work to maintain competitiveness and crude oil production levels above 1.1 million barrels/day, planning to bid for another 50 oil blocks by 2025.
The President of the Republic predicted that crude oil production activity will be stabilized and boosted, in order to mitigate the sharp decline in production recorded in recent years.
To achieve this challenge, in the short and medium term, the Head of State highlighted the “Ndola Sul” projects, with a production capacity of 20 thousand barrels/day, and “Agogo Fuel”, for the recovery of 490 million oil gross.
Also part of this challenge, he pointed out, are the “Begónia” projects, with capacity to produce 30 thousand barrels/day, “Cameia” and “Golfinho”, which will implement the first oil development project in the Kwanza Basin and in waters deep, respectively.
João Lourenço also highlighted the formalization of more than 253 thousand 38 economic agents, through the Informal Economy Reconversion Program (PREI).
He highlighted that more than 5,700 economic agents were financed by public instruments.
He added that, among the financed agents, there are around 2,250 women who received approximately 5,680 million kwanzas, having created around 7,950 jobs, for 2,700 women.
The Head of State informed that the installed capacity of electricity produced in Angola is around six thousand 283 Megawatts and responds to a demand that currently records a consumption of two thousand 375 Megawatts.
To reverse the current reality, as supply exceeds distribution, João Lourenço highlighted the need to prioritize investment in energy transmission and distribution networks, as well as in household connections.
“We are producing more energy than we are consuming”, concluded the President of the Republic, who explained the fact that the national electrical matrix comprises 59.7% hydroelectric energy, 35.7% thermal energy, 3.8% solar energy, 0.5% energy hybrid.
He highlighted that 63.6% of the energy produced in Angola is clean, from non-polluting sources, and environmentally friendly.
The Head of State announced that twenty-nine diamond cutting factories are under construction in the country, with a view to adding value to the raw mineral and ensuring greater employment in the high-tech industry.
He mentioned that of the 29 manufacturing units, 25 are being built in the Saurimo Diamond Pole (Lunda Sul) and four in the Dundo Diamond Pole (Lunda Norte).
In addition to the factories under construction, last February another cutting unit was inaugurated, in Saurimo, with the capacity to cut five thousand carats of rough diamonds per month, having created 120 jobs. With this unit, the country currently has seven cutting factories.
Still on oil, Sociedade Nacional de Combustíveis (Sonangol) won the African award for best oil company, during the “African Energy Week 2023”, at the event that took place between the 16th and 20th of October, in Cape Town, South Africa.
It was also highlighted in the week’s economic news that Sonangol and China Chemicals Engineering Company (CNCEC) signed contracts in Lobito, Benguela, for the construction of the refinery in that city in the province of Benguela.
According to the Chairman of the Board of Directors of Sonangol, Gaspar Martins, who spoke during the ceremony, these are contracts for engineering, supply, construction, management, technical support services and supervision.
The objective, according to the PCA, is to increase internal crude oil processing capacity to reduce national dependence on imports of refined oil.
In turn, the President of CNCEC, Wen Gang, highlighted that his company is committed to honoring its commitments and is willing to always follow the concepts of integrity, innovation and mutual advantages, to comprehensively strengthen unity and transparency with Angolan partners.
In the economic news it was highlighted that of the 195 projects contracted, under the Integrated Plan for Intervention in Municipalities (PIIM), in Luanda, 94 have already been completed.
Speaking at the opening of the seminar on “Public Procurement Practices for PIIM Managers”, governor of the province of Luanda, Manuel Homem, explained that for financial reasons it was not possible to have a higher completion rate than we have today.
Regarding the seminar, the government official said it was a clear manifestation of the Executive’s commitment to training the main managers at the level of local governance, for a better implementation of the Government’s program.
The launch of the Bolsa Social project of the Angolan Debt and Securities Exchange (BODIVA) also made headlines.
With this initiative, BODIVA’s intention is to boost agribusiness and family entrepreneurship, in an investment of Kz 450 million, with the pilot phase taking place in the Dombe Grande region, province of Benguela, where it is expected to reach 1,250 families in the first three years, promoting an annual income of Kz 450 thousand, per household.
The project arises within the scope of BODIVA’s social responsibility, which has, among its main objectives, combating poverty, through financing, creating business opportunities and facilitating the accelerated growth of economic activity in rural communities.
In another area, this week, it was highlighted that the Multisectoral Commission to Support the Conduct of the 2024 Census recommended the effective implementation of provincial technical groups to facilitate cartographic updating and boost the dissemination of the General Population and Housing Census, which begins on the 19th of July of next year.
In a meeting, under the presidency of its general coordinator, the Minister of State and Head of the Military House of the President of the Republic, Francisco Pereira Furtado, made a preliminary assessment of the Pilot Census, which took place in seven provinces from July to September this year.
Angola’s participation in the Forum on Special Economic Zones in Abu Dhabi, United Arab Emirates (UAE), was also highlighted.
At the event, the president of the Board of Directors of the Luanda- Bengo Special Economic Zone, Manuel Francisco Pedro, highlighted the importance of Special Economic Zones, as political tools for promoting investment, job creation and innovation.
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