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Wed, 15 Jul 2020 10:36 - Updated Wed, 15 Jul 2020 11:07

Executive raises health sector's budget

Luanda - The health sector's budget registered an increase of 2.4%, despite the downtrend revision of the General State Budget (OGE) of 2020, by 15.7%, due to the impact of the covid-19 pandemic.

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Finance minister, Vera Daves

Photo: Francisco Miudo

When presenting the Revised General State Budget (OGE) in parliament, last Tuesday, the minister of Finance, Vera Daves, emphasized that, in this scope, the health budget increased to 816.7 billion kwanzas.

This increase in the budget allocation, she said, was effected without prejudice to the additional credits that the sector has been receiving in recent months, under the OGE in execution.

Despite the 5.9% reduction, overall, the revision proposal under discussion in general by the plenary, keeps the social sector with greater weight (40.7% of expenses), having a budget that amounts to just over 2.4 billion kwanzas.


Greater attention to the economic sector

Recognizing that economic dynamism is an important condition for the development and strengthening of social policy, the minister of Finance informed that the budget of the economic sector was also reinforced, with particular attention to basic activities.

The budget of the economic sector thus goes to 943.6 billion kwanzas, which represents an increase of 32.7%.

The sector of agriculture, forestry, fishing and hunting is one of those whose budget has been increased by 18.8%, as a result of the recognition of its importance in combating poverty and food security.

Within the scope of the Executive's social policy, the governor also highlighted the kick off, since May, of the Social Protection Strengthening Programme “Kwenda”, through which it is intended to guarantee a minimum income of 8,500 kwanzas for around 1.6 million vulnerable families.

Increase in capital expenditure

The minister referred that the executive also favours the increase of capital expenditure, recognizing the important role of public investment, as a vehicle for economic growth, a commitment that gave life to the Integrated Plan for Intervention in Municipalities (PIIM).

In this regard, capital expenditure increased by 9.3%, and is expected to reach around 1.5 billion kwanzas.

Conversely, the reduction of 1.6% in personnel expenses stands out, reflecting the immediate effects of the Executive's organizational review.

According to the minister, overall, the revised OGE reduces expenses with goods and services by 3.4%.

With regard to the capital amortization expenses of the debt, she continued, it contracted by 23%, standing at 5.6 billion kwanzas, of which 2/3 are intended to amortize the internal debt.

Vera Daves referred that, when the interest and capital amortizations are added, the weight of financial expenses reduces from 60.7% to 55.9% of the total OGE, allowing the liberation of the fiscal space for capital expenses, which presents greater multiplier effect on the economy and job creation.

The Revised OGE for 2020 is estimated at 13.4 billion kwanzas, reflecting a reduction of 15.7% compared to what is ongoing.

The budget forecast will be financed by 45.5% from tax revenue and 54.5% from finance revenue.

The National Assembly continues, on Wednesday (15), the discussion in general terms of the Revised State Budget, aimed at adjusting expenses and revenues to the conditions imposed by the current global economic context, dominated by the strong incidence of the Covid-19 pandemic.

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