ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage
Luanda

Max:

Min:

Home » News » Economy

Sat, 19 Nov 2016 10:32 - Updated Sat, 19 Nov 2016 10:32

Parliament passes Legal Regime Law for Issuance, Management of Public Debt

Luanda - The National Assembly Friday approved, on a global basis, the Draft Law to amend the Law on the Legal Regime for Issuance and Management of Direct and Indirect Public Debt of the State.

Send by email

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

Correct

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

MPs approve Law on Legal Regime for Issuance and Management of Public Debt

Photo: Rosario Santos

The document, approved with 133 votes in favor, 34 against and three abstentions, is henceforth designated by Law No. 1/14 of February 6.

The adoption of the Legal Regime Law for Issuance, Management of Public Debt followed the 1st Extraordinary Meeting of the 5th Legislative Session of the third Legislature of the National Assembly.

Presenting the grounds for the text, the Angolan Finance Minister, Archer Mangueira, said that the amendment of the Law results from the need to standardise the rules used in the public debt management system.

According to him, the measure is based on a new system that has been implemented by the public debt management unit in partnership with the United Nations Conference on Trade and Development.

The official argued that one of the reasons consists of the need to consider mechanisms for assessing government indebtedness that complement the ratio, debt, Gross Domestic Product (GDP), in line with international practices and the current public debt statistics manuals.

In line with international practices, he said, the rules and principles related to the issuance of public debt should be addressed to the public sector entities, namely sovereign bodies, central and local government, public services, public institutes, autonomous sources and social security.

During the session, chaired by the Parliament Speaker, Fernando da Piedade Dias dos Santos, the MPs also approved the Press Law.

The participants also okayed the Law on the exercise of the Broadcasting activity,  the Law on the status of the Journalist, Law on the exercise of the Television activity and the Law of the Angolan Social Communication regulator.

The Finance Minister, Archer Mangueira, also presented information on the report for execution of budget, finance and asset of the General State Budget for the second quarter of 2016.

Tags Parlamento  

Read also
  • 10/08/2018 18:03:47

    Angola needs to improve human development index

    Luanda - Angola needs to improve the human development index of its population as reflected on the Multiple Indicator and Health Survey (2015-16 IIMS), said Friday National Assembly Speaker, Fernando da Piedade Dias dos Santos.

  • 18/11/2016 13:14:45

    Social sector takes 38,03 of 2017 Budget spending

    Luanda - At least 38,03 percent of the spending of the State Budget for 2017 will go to the social sector, thus taking the largest share, the Finance minister, Archer Mangueira, said.

  • 18/11/2016 12:07:47

    Public debt sustainable - minister

    Luanda - Angolan Government’s debt to the external market is sustainable as it is a resource used in the financing of capital expenditure to create wealth.