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Fri, 10 Jul 2020 09:02 - Updated Fri, 10 Jul 2020 09:01

Parliament gives "green light" to 2020 State Bduget revision

Luanda - The National Assembly (Angolan Parliament) Thursday approved the joint opinion report on the draft law approving the Revised State Budget (OGE) for the economic year 2020, with 22 votes in favour, none against and five abstentions.

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Thus, the parliamentarians give the "green light" so that the revised 2020 budget can be discussed and approved, in general, at the next plenary meeting of the National Assembly (AN), scheduled for 14 July.

The revised 2020 state budget provides revenues and expenditures estimated at 13.5 billion kwanzas.

The draft law took into account the reference price of 33 US dollars a barrel of oil, with a reduction of about 14.9 per cent over the originally proposed State Budget 2020.

In April of this year, the Angolan government presented a set of measures to deal with Covid-19, where the revision of the State Budget 2020 is included.

Approved by Parliament last December, the State Budget for 2020 foresaw expenditure and revenue of 15.8 billion kwanzas, with the reference price of 55 dollars a barrel of oil.

The vote was taken during the joint meeting to discuss most of the proposed laws on "the draft law approving the revised General State Budget (GSB) for the economic year 2020", "the draft law on the sustainability of public finances", "the draft law to amend the basic law for the public business sector" and "the draft law on the legal regime for securities".

The other draft laws will be discussed and voted on in the plenary meeting of the National Assembly (AN), scheduled for 22 July.

The draft law on the sustainability of public finances was approved with 26 votes in favor, none against and no abstention.

The joint opinion report on the draft law to amend the basic law on public enterprise was approved with 23 votes in favour, none against and no abstentions.  

Finally, the report adopted the joint opinion of the proposal for a law on the legal framework for securities guarantees, with 21 votes in favour, none against and no abstentions.

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