ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Politics

Sat, 25 Jul 2020 13:27 - Updated Sat, 25 Jul 2020 13:26

Parliament approves draft law on sustainability of finances

Luanda - The National Assembly (AN) approved, in general, this Friday, the Proposed Law on Sustainability of Public Finances, with 130 votes in favor, no against and 42 abstentions.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

Members of Parliament approve financial diploma

Photo: Francisco Miúdo


The draft Law provides for the creation in Parliament of the Public Accounts Committee, a mechanism that is part of the strengthening of the effectiveness of medium-term public finance management instruments, as well as tax rules that contribute to the implementation of tax policy.

With the proposal, the Government intends to strengthen the rules governing the implementation of fiscal policy, focusing on macroeconomic stabilisation and the sustainability of public finances.

 In presenting the diploma, the Minister of Finance, Vera Daves, said that the diploma stems from the macro fiscal context that the country lives.

She recalled that since the second half of 2014 the Angolan economy has been going through an economic cycle marked by a deceleration translated into a negative Gross Domestic Product of approximately 2.6 percent in 2016 and 1.8 percent in 2018.

According to Vera Daves, this situation is due to weak oil production, a sector that plays a preponderant role in the country's economy and particularly in balancing public finances.

This context, she said, led to a fall in tax revenues, and in recent years budget deficits have led the Government to make debts, leading to their worsening.

Read also
  • 25/07/2020 10:50:56

    Angola mourns former Defence minister Kundi Paihama death

    Luanda - The country mourns the death of former National Defence Minister Kundi Paihama, which occurred in the early hours of this Friday, in a hospital unit in Luanda, victim of illness.

  • 25/07/2020 08:20:53

    PGR seizes Benguela Hemodialysis Center

    Luanda - The National Asset Recovery Service (SNRA) of the Attorney General's Office (PGR) ordered the seizure of several infrastructures, including the Hemodialysis Centre built on the site of Benguela General Hospital and all its equipment.

  • 24/07/2020 12:06:27

    Angola implements pioneer reform

    Luanda - The Vice-President of the Republic, Bornito de Sousa, said last Thursday that the country is implementing a pioneer reform process on the democratic institutions and public administration's moralization, highlighting the fight against corruption.