{"id":53109,"date":"2024-01-03T17:39:11","date_gmt":"2024-01-03T17:39:11","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/?p=53109"},"modified":"2024-01-03T14:56:03","modified_gmt":"2024-01-03T14:56:03","slug":"provincial-finance-delegations-will-have-more-autonomy-this-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year","title":{"rendered":"Provincial Finance delegations will have more autonomy this year"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>After publication in the Dia\u0301rio da Repu\u0301blica on December 29th of last year, the General State Budget for 2024 (OGE2024) began to be executed, from Tuesday, with an estimate of revenue and expenses in the order of 24 .7 billion kwanzas.<\/b><\/p>\n

Among other highlights, the Government’s main financial tool foresees a reduction in the proportion of government debt to 69.2% of GDP, in addition to other structuring measures, such as increasing the Labor Income Tax (IRT) exemption limit of 60 thousand to 100 thousand kwanzas.<\/p>\n

Also relevant is the adjustment of 5% of the Civil Service salary; the operationalization of the National Employment Fund (with 10 billion kwanzas); and the implementation of the Special Contribution on Foreign Exchange Operations (CEOC), applicable to transfers in foreign currency outside Angola, with a rate of 2.5% for individuals and 10% for legal entities.<\/p>\n

In turn, the Budget Execution Rules provide that the Minister of Finance may authorize budgetary units to use their own revenues collected for public investment expenses.<\/p>\n

In the context of decentralization in Public Finance, emphasis is placed on the provincial Finance delegations that will have the legal capacity to authorize the relocation of financial quotas in expenses included in the budget that contribute to the increase in fixed capital. In addition, powers will be given to change the monthly financial limits for internal compensation in operating expenses of basic activity and support for development, in the categories of expenses in goods and services for capital expenses, in the respective dependent body.<\/p>\n

Provincial Finance delegations will also have the prerogative to cancel and create salary sheets in SIGFE, upon request from State Local Administration bodies. Furthermore, they can validate cases of mobility in service commission, as well as definitive functional demotion at local level. and validate invoices and measurement records at local level.<\/p>\n

Approved by the National Assembly on December 13, 2023 (with 119 votes in favor, 83 votes against and one abstention), the General State Budget for this year foresees economic growth of approximately 2.84% and an inflation rate of 15 .3% by the end of the year. The economic projections were prepared considering the average price of a barrel of oil of 65 dollars and an average daily production of one million and six hundred thousand barrels of oil.<\/p>\n

Three questions to Paulo Santos, economist and university professor<\/p>\n

Autonomy is an antechamber for local authorities<\/p>\n

1-The execution of the 2024 OGE provides for the autonomy of local budgeted units to carry out projects with their own funds. What advantages will this procedure have?<\/p>\n

It is good that the budgetary units that generate revenue, especially those integrated in the local administration, get used to managing, that is, planning their expenses, including local projects, taking into account what they collect, so as to stop depending solely on allocations. This model will be close to the financial model of local authorities, a fact that prepares managers for future changes towards financial autonomy.<\/p>\n

2-What impact will the exemption from IRT have for employees with remuneration of up to 100 thousand kwanzas, as opposed to the ceiling previously set at 60 thousand kwanzas?<\/p>\n

Financial relief or exemption always saves the obligee’s pocket. Considering the high devaluation of the kwanza and the rise in prices of basic food products, this exemption will certainly bring some relief to the beneficiaries.<\/p>\n

3 Could the 5.0 percent increase in civil service salaries have an impact on families\u2019 purchasing power?<\/p>\n

The five percent increase in civil service salaries will have a positive impact, mitigating employees’ purchasing power, but not enough to counter kwanza inflation of around 18 percent, the high rise in prices above inflation, nor the devaluation of our currency.<\/p>\n

jornaldeangola<\/b><\/p>\n

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

Africa-Press – Angola. After publication in the Dia\u0301rio da Repu\u0301blica on December 29th of last year, the General State Budget for 2024 (OGE2024) began to be executed, from Tuesday, with an estimate of revenue and expenses in the order of 24 .7 billion kwanzas. Among other highlights, the Government’s main financial tool foresees a reduction […]<\/p>\n","protected":false},"author":84,"featured_media":53107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[233,337,329],"class_list":["post-53109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nProvincial Finance delegations will have more autonomy this year - Angola<\/title>\n<meta name=\"description\" content=\"After publication in the Dia\u0301rio da Repu\u0301blica on December 29th of last year, the General State Budget for 2024 (OGE2 ...\" \/>\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\/provincial-finance-delegations-will-have-more-autonomy-this-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Provincial Finance delegations will have more autonomy this year\" \/>\n<meta property=\"og:description\" content=\"After publication in the Dia\u0301rio da Repu\u0301blica on December 29th of last year, the General State Budget for 2024 (OGE2 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year\" \/>\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=\"2024-01-03T17:39:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2024\/01\/sm_1704280789.666937.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"855\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\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\/provincial-finance-delegations-will-have-more-autonomy-this-year#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Provincial Finance delegations will have more autonomy this year\",\"datePublished\":\"2024-01-03T17:39:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year\"},\"wordCount\":614,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2024\/01\/sm_1704280789.666937.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/provincial-finance-delegations-will-have-more-autonomy-this-year\",\"name\":\"Provincial Finance delegations will have more autonomy this year - 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