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Thu, 01 Nov 2018 09:21 - Updated Thu, 01 Nov 2018 09:21

2019 Draft State Budget reaches National Assembly

Luanda - Last Wednesday the Executive handed over to the National Assembly the Draft State Budget (OGE) for 2019, estimated at 11.2 billion kwanzas, an amount higher than the 9.6 billion of the 2018 financial year.

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Chairwoman of the National Assembly's 5th Commission, Ruth Mendes

Photo: Francisco Miudo

Speaker of the National Assembly, Fernando da Piedade Dias dos Santos (left) receiving the OGE 2019.

Photo: Francisco Miudo

This main instrument of management and execution of the Government's policy was drawn up on the basis of a reference of 68 US dollars the price of a barrel of oil.

The document was handed over by the minister of State for Economic and Social Development, Manuel Nunes Júnior, on behalf of the Executive, to the Speaker of the National Assembly, Fernando da Piedade Dias dos Santos.

Regarding the sectoral distribution of the budget, the minister stressed Education and Health that will have significant allocations, in line with the recommendations of the United Nations to allocate a 10 percent of the Budget to these two sectors.

In the proposal, Health expenditures represent seven percent of the total, against four percent in the budget of the current year, while in Education the figure is six percent, against the four percent of 2018.

With this OGE, he said, the Executive envisages the economic recovery with a positive growth of 2.8 Gross Domestic Product (GDP) and a retraction of 1.1 percent, against 2.5 percent of 2017 and 2.6 percent of the year 2016.

Manuel Nunes Júnior valued the forecasts of the non-oil sector growth, since this one creates riches, jobs, income and will have more capacity to fight the poverty in the country.

Ruth Mendes, Chairwoman of the National Assembly's Finance and Economics Committee (5th Committee), highlighted the fact that the Executive has met the deadlines (the law establishes until the last day of October) to deliver the Draft State Budget (OGE), which must be approved by  15 December.

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