{"id":2871,"date":"2022-03-19T15:23:18","date_gmt":"2022-03-19T15:23:18","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/pr-defends-elimination-of-superfluous-expenses-by-the-state-to-help-needy-families"},"modified":"2022-03-19T17:01:28","modified_gmt":"2022-03-19T17:01:28","slug":"pr-defends-elimination-of-superfluous-expenses-by-the-state-to-help-needy-families","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/pr-defends-elimination-of-superfluous-expenses-by-the-state-to-help-needy-families","title":{"rendered":"PR defends elimination of \u201csuperfluous expenses\u201d by the State to \u201chelp\u201d needy families"},"content":{"rendered":"

Africa-Press – Cape verde. <\/strong><\/span>Jos\u00e9 Maria Neves, President of the Republic of Cape Verde, warned yesterday in Mindelo that if the State continues to borrow for its functioning, this could jeopardize the sustainability of the country’s public finances. He defended, among other things, the elimination of \u201csuperfluous\u201d State expenditures and measures to \u201chelp\u201d the most needy families.<\/p>\n

The head of state was speaking yesterday about \u201cCape Verde the post-pandemic future\u201d with young people from S\u00e3o Vicente, mainly university and secondary school students.<\/p>\n

They were told that the situation is \u201cvery complex and very difficult\u201d, especially after three years of severe drought, the situation of the covid-19 pandemic and the impacts of the war in Ukraine, with \u201cthe general increase in prices , especially of basic necessities\u201d.<\/p>\n

Because of the covid-19 pandemic, he clarified that the economy shrank by about 14.8 percent (%), which, in his view, \u201cis a lot\u201d in terms of national wealth, also warning that \u201cthe country needs to recover in terms of unemployment, employment and the fight against poverty and inequality\u201d.<\/p>\n

Because of the war, he said that the recovery could be \u201cslower than expected\u201d, and that, therefore, the country will need \u201cabout three years with the economy growing strongly to reach the wealth it had. in 2019\u201d.<\/p>\n

Reduction or elimination of superfluous expenses<\/b><\/p>\n

In this context, which is even more difficult for the country, he called for \u201cmore quality in public spending\u201d, the \u201creduction or elimination of superfluous expenses and the taking of measures to, in the short term, help the most needy families who need it most. the support of the State to be able to face the crisis\u201d.<\/p>\n

\u201cThe recovery will be much slower, the difficulties and challenges will increase. We have a large increase in public debt, which exceeds 150% of Gross Domestic Product (GDP) and, therefore, we are dangerously heading towards a highly indebted country if we continue at this rate of indebtedness, in addition to other non-securitized debts\u201d, he clarified. .<\/p>\n

JMN also recalled that the \u201cdomestic debt exceeds 30%, which can create difficulties for companies internally, even more so when the State competes with companies for access to resources\u201d, increasing \u201cgreatly the cost of the investment itself\u201d.<\/p>\n

Hence, he defended that \u201cthe State cannot go into debt to guarantee its functioning\u201d. \u201cThe State can borrow, yes, for the development and growth of the economy. Debt should be allocated to investment and wealth creation, or gross capital formation and not to the functioning of the state itself,\u201d he said.<\/p>\n

In this context, he said that one must have \u201ccourage to carry out profound reforms and changes\u201d, to \u201creduce the public machine dimension\u201d and also \u201cdependance on the State itself\u201d.<\/p>\n

\u201cRadically increase decentralization, denationalize society and reduce the public machine to channel resources to face the challenges facing Cape Verdean society\u201d, he defended.<\/p>\n

Remember that until yesterday, Friday, 18, the PR was on the island of S\u00e3o Vicente in an open and decentralized presidency, as he had promised when he was elected.<\/p>\n

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

Africa-Press – Cape verde. Jos\u00e9 Maria Neves, President of the Republic of Cape Verde, warned yesterday in Mindelo that if the State continues to borrow for its functioning, this could jeopardize the sustainability of the country’s public finances. He defended, among other things, the elimination of \u201csuperfluous\u201d State expenditures and measures to \u201chelp\u201d the most […]<\/p>\n","protected":false},"author":84,"featured_media":2870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12,16],"tags":[233,331,328],"class_list":["post-2871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"\nPR defends elimination of \u201csuperfluous expenses\u201d by the State to \u201chelp\u201d needy families - Cape Verde<\/title>\n<meta name=\"description\" content=\"Jos\u00e9 Maria Neves, President of the Republic of Cape Verde, warned yesterday in Mindelo that if the State continues to bo ...\" \/>\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\/cape-verde\/all-news\/pr-defends-elimination-of-superfluous-expenses-by-the-state-to-help-needy-families\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PR defends elimination of \u201csuperfluous expenses\u201d by the State to \u201chelp\u201d needy families - 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