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Thu, 21 Nov 2019 12:17 - Updated Thu, 21 Nov 2019 12:17

Positive fiscal balances guarantee consolidation of business environment

Luanda - Finance minister Vera Daves affirmed last Wednesday, in Luanda, that the guarantee and perpetuation of positive fiscal balances, underway in the country, will contribute to the consolidation of the country’s business environment and propitiate investments in the real economy.

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Participants in the Forum on capital market

Photo: Gaspar dos Santos

The 2020 General State Budget proposal that was approved last Tuesday, foresees a fiscal balance of around 1.2% of the Gross Domestic Product (GDP).

Speaking during the opening act of the Third Capital Market Forum, held under the theme “Capital Market Capitalizing the Economy 4.0”, she considered the guarantee of positive fiscal balances a way for the state to free up resources to make investments and provide more employment.

Although the state's specification notebook is large and complex, the 2020 General State Budget foresees that public administrations be able to generate a positive balance between the resources allocated to them and the moneys they get authorization to spend.

Vera Daves clarified that the positive fiscal balance will reduce the sovereign debt gradually.

The ongoing reform of the business sector through the privatization programme of states assets, being conducted by IGAPE (Institute of State Assets Management), as well as the PAC (Credit Support Programme) will strongly contribute to rationalizing public resources and stimulating the economy.

The Executive aims to give more quality to the public finances and boost economic activity, giving opportunity to the private sector to grow and comply with its role, thus providing leverage for the country’s economic development.

On the other hand, he explained that the state will create conditions for companies to better contract the goods and services they need for their value chains.

The Capital Market Forum, an initiative of the company ''Media Rumo'', aimed to debate and promote themes related to the promotion of the digital economy in Angola, capital markets, among other topics.

On the other hand, Kátia Lopes, managing director of Media Rumo, said that contacts between market players is a key factor for economic development.

Tags Finances  

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