{"id":49643,"date":"2023-11-16T07:09:01","date_gmt":"2023-11-16T07:09:01","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/?p=49643"},"modified":"2023-11-16T06:13:25","modified_gmt":"2023-11-16T06:13:25","slug":"oge-2024-foresees-330-billion-kwanzas-for-economic-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth","title":{"rendered":"OGE 2024 foresees 330 billion kwanzas for economic growth"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>The Minister of Finance, Vera Daves de Sousa, said, this Wednesday, in Luanda, that the proposal for the General State Budget (OGE) 2024 envisages making 330 billion kwanzas available to private business initiatives for the issuance of sovereign debt, with the aim of stimulating economic growth.<\/b><\/p>\n

When presenting the proposal for the General State Budget (OGE) 2024, at the 1st ordinary plenary meeting of the 2nd legislative session of the 5th legislature of the National Assembly, he highlighted that the perspective involves making access to financing accessible to companies that do not have sufficient real guarantees strong.<\/p>\n

Vera Daves de Sousa says they want to continue to rationalize public spending to strengthen the structural fiscal balance, reinforce the sustainability of public finances, reduce costs with external consultancy and reinforce active debt management.<\/p>\n

He reinforced that he intends to accelerate the implementation of the reform of the public business sector, institutionalizing the operationalization within the medium-term expenditure framework, subject to the established limits.<\/p>\n

He highlighted that in relation to personnel expenses, the proposal presents 3 billion kwanzas, goods and services 2.6 billion and transfers 1.8 billion.<\/p>\n

The 2024 OGE Proposal, delivered to Parliament on October 31, presents a total of 24.7 billion Kwanzas, of which 14.7 billion corresponds to fiscal expenditure, including debt interest, and the other 10 billion is intended for financial expenses related to debt repayment, in the amount of 9.7 billion, and capitalizations in the amount of 300.4 billion kwanzas.<\/p>\n

As for functional expenditure allocations, the budget is marked by a high debt service, concentrating around 57.8% of total budget expenditure, with a total amount of Kz 14.3 billion, according to the Rationale Report.<\/p>\n

The report states that the social sector accounts for the second largest share of the budget, with a weight of 20.1% (Kz 4.9 billion), followed by General Public Services, with 9.0% (Kz 2.2 billion, Defense , Security and Public Order, with 7.1% (Kz 1.7 billion) and the Economic sector (Kz 4.9%).<\/p>\n

The OGE 2024 proposal will also include resources to support the private sector, aiming to boost the economy, through a financial package worth Kz 477.26 billion, of which Kz 147.26 billion for the capitalization of financial institutions in the State dedicated to granting credit to the national economy.<\/p>\n

Kz 330.00 billion will also be available for the issuance of sovereign guarantees to promote private investment.<\/p>\n

The 2024 General State Budget proposal brings a global fiscal surplus of 17.4 billion kwanzas, corresponding to 0.02% of the Gross Domestic Product (GDP), as a result of tax revenues and expenses of 20.08% and 20.06%, respectively.<\/p>\n

It is expected to create a positive primary balance of around 6.2% of GDP and the implementation of the commitment to reduce the non-oil primary deficit, expected to 4.1%, within the 5% limit stipulated by the finance sustainability law public debt, as well as the reduction of the government debt ratio to 69.2% of GDP, against the expectation of closing at 79.9% in 2023.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. The Minister of Finance, Vera Daves de Sousa, said, this Wednesday, in Luanda, that the proposal for the General State Budget (OGE) 2024 envisages making 330 billion kwanzas available to private business initiatives for the issuance of sovereign debt, with the aim of stimulating economic growth. When presenting the proposal for the […]<\/p>\n","protected":false},"author":84,"featured_media":49642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,337,329],"class_list":["post-49643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nOGE 2024 foresees 330 billion kwanzas for economic growth - Angola<\/title>\n<meta name=\"description\" content=\"The Minister of Finance, Vera Daves de Sousa, said, this Wednesday, in Luanda, that the proposal for the General Stat ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OGE 2024 foresees 330 billion kwanzas for economic growth\" \/>\n<meta property=\"og:description\" content=\"The Minister of Finance, Vera Daves de Sousa, said, this Wednesday, in Luanda, that the proposal for the General Stat ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-16T07:09:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/11\/sm_1700102551.304666.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1066\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"OGE 2024 foresees 330 billion kwanzas for economic growth\",\"datePublished\":\"2023-11-16T07:09:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth\"},\"wordCount\":474,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/11\/sm_1700102551.304666.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/oge-2024-foresees-330-billion-kwanzas-for-economic-growth\",\"name\":\"OGE 2024 foresees 330 billion kwanzas for economic growth - 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