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Sun, 27 Oct 2019 09:23 - Updated Sun, 27 Oct 2019 09:23

Akz 15.8 bln 2020-budget proposal discussed

Luanda - Angolan Government analysed Saturday (26 October) Draft Law on State General Budget (OGE) for 2020, estimated at AKZ 15.8 billion.

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Cabinet council meeting

Photo: Francisco Miúdo

The document sets the amount to be collected in 2020, the spending limits, basic rules for its execution and carries expenses in the same amount for the same period.

According to the statement, emerged from the Cabinet Council's session chaired by the President João Lourenço, the expenditure are those with the main priorities in the country's economic, social, institutional and infrastructure development areas.

This is part of the goals defined in the National Development Plan (PND) 2018-2022.

The document predicts a growth of Gross Domestic Product (GDP) of 1.8 percent, with stress to the sectors of the oil, agriculture and industry as well as social, education, health sectors and the fight against poverty.

As for the ??public finance management area, the Cabinet reviewed the State General Account for 2018.

The Saturday's session communiqué indicates that there was an improvement in the description of financial information on state holdings in state-owned enterprises, direct and indirect government funds and the National Institute of Social Security.

The proposal will be forwarded to National Assembly (Parliament) for approval.

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