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Thu, 12 Dec 2019 10:28 - Updated Fri, 13 Dec 2019 09:21

Funds for interventions in municipalities confirmed

Menongue - About US $100 million, out of the one billion already made available by the Sovereign Fund to the Central Bank (BNA), is in the National Treasury for the implementation of the Integrated Municipal Intervention Plan (PIIM), revealed last Wednesday, in the south-eastern Cuando Cubango Province, the Finance minister Vera Daves.

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Angolan finance minister, Vera Daves.

Photo: Gaspar dos Santos

Speaking to the press, in the end of a quick visit to Menongue, the province’s chief town, the minister reported that of the $2 billion allocated by the Sovereign Fund, $1billion is already in the Central Bank and one hundred million US dollars were transferred to the National Treasury having in view the execution of social impact projects.

According to the government official, as a significant number of invoices are grouped, an additional 100 million will be transferred, and so on until the one billion is completed, and then the process will continue with the release of the other tranche ($ one billion), with defined execution accuracy.

She also explained that the process for the PIIM's projects in the province is happening under ordinary procedures, adding that Finance Ministry’s teams have been supporting the Cuando Cubango government and the municipalities in preparing the necessary tools for the launch of public tenders, disclosing that many of them are almost ready and the tenders will be launched in January 2020.

The minister went on to reveal that other projects are being re-evaluated by the provincial government, having into account the level of priority, social impact and, eventually, they will be probably forwarded to the Ministry of Finance and the Ministry of Territory Administration with a redefinition proposal.

Paralyzed works

In regard to the many paralyzed works, the minister said that her team will work with this province's administration to make a diagnosis on the actual situation of the projects, in order to understand the discrepancies between the physical execution and the financial performance.

''We are committed to working together, to find out if all execution rules were accomplished (...)'' she assured.

The 2020 State Budget

Regarding the State General Budget (OGE) for 2020, to be approved this Thursday in the National Assembly, Vera Daves said it is the possible one, because there is a need to adapt to the conditions that the National Treasury has and definitely learn more and more to live within the possibilities.

To the minister, the current reality requires a change of mindset, humility, focus on what is priority and manifestation of love for others.

“We therefore hope that all members vote in favour of this OGE, which reflects the Executive's commitment to what can be done for the welfare of the people.”

The minister and her delegation have already returned to the country's capital, Luanda, after intense work with the Cuando Cubango’s governmental authorities.


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