Sat, 29 Oct 2016 10:28 - Updated Sat, 29 Oct 2016 10:38
MPs to approve 2017 State Budget within legally prescribed time
Luanda - The chairman of the Parliament?s Fifth Commission for Economy and Finance, Manuel Nunes Júnior, said last Friday that within the legally prescribed time MPs will work to approve the 2017 State Budget Draft, which was formally submitted to the national legislative body last Friday.
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Manuel Nunes Junior - chairman of the Parliament's Fifth Commission
Photo: Clemente Santos
The 2017 State Budget Draft was last Friday handed to the Speaker of the National Assembly (Angolan Parliament), Fernando da Piedade Dias dos Santos, by the chief of staff of the President’s Civil Office, Manuel da Cruz Neto.
Speaking to the press, Manuel Nunes Júnior explained that all budgets are important, however this one has a particular importance because it coincides with the elections year (2017), stressing that there is real concern about fulfilling the responsibilities relating to the electoral process, with a view to holding stable and calm polls.
He also revealed that according to the law, the MPs must approve the State Budget Draft by the 15th of December.
The 2017 State Budget Draft has revenues estimated at 7.3 trillion kwanzas (USD 01 = 160 kwanzas). In the last Budget, the revenues were estimated at AKZ 6.9 trillion.
The 2017 State Budget also estimates expenses in the order of AKZ 7.3 trillion.
The document, which begins to be discussed in the coming days by members of the Angolan Parliament, includes revenue and expenditure for the social sector in the order of two trillion kwanzas.
For this budget, tax revenue is estimated at four trillion kwanzas and a funding level of revenue in the order of three trillion kwanzas, while the annual expected inflation rate is of 15 percent.
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