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Fri, 18 Nov 2016 13:14 - Updated Fri, 18 Nov 2016 13:14

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.

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Voting of 2017 State Budget in Parliament

Photo: Lucas Neto

 

The minister was speaking on Thursday in Luanda during the presentation, discussion and approval of the 2017 State Budget in the National Assembly (Parliament).

According to the minister, the social and economic sectors together get 55 percent of the State Budget spending.

Other shares of the spending include General Public Services with 20%, Defence, Security and Public Order (20%)

Of the Social Sector’s amount, 26,1 will cover Education, 16,2% for Health, 37,9% will go to Social Protection, 17,7% for Housing and Community Services.

Recreation, Culture and Religion  will take 1,5% , while Environment will get 0,7%.

The public debt operations (interests and refunds) will take 36,28 % of the 2017 State Budget.

The 2017 State Budget generally passed on Thursday in a Luanda session of the Parliament provides spending and revenue of Akz 7.3 trillion.

According to the minister, the country’s external resources dropped from Usd 24.6 billion to Usd 22.7 billion, remaining however at a high level enough to gain the trust of the international partners.
 

With effect, the source adds, the reference macro-economic situation for the exercise of the 2017 budget points to a better performance of the national economy, taking into account a growth rate of the real Gross Domestic Product of 2,1%, which is higher than the 2016 projection that stood at 1,1%. This predicts an oil sector growth of 1,8 % and 2,3% for the non-oil sector.

It shows that the performance of the non-oil sector is greatly determined by the sectors of energy with 40,2%, Agriculture (7,3%), Construction (2,3 %) and Manufacturing Industry ( 4%), in proportion to their respective weight in the composition of the GDP, reads the note.

The 2017 State Budget provides global flows of fiscal revenues of Akz 3.6 trillion and fiscal spending of Akz 4.7 trillion, corresponding respectively to 18,6% and 23,9% of the GDP, resulting in a global deficit of Akz 1.4 trillion, that is 5,3% of the GDP.

The 2017 fiscal scenario provides a significant cut on subsidies estimated at 19,3 %, as compared to the amended budget of 2016.

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