Parliament approves 2021 State Budget

  • Plesidium da  Sessão Plenaria Assembleia Nacional
Luanda - Parliament approved last Tuesday, in general, the 2021 State Budget Bill (OGE 2021), with 127 votes in favour 45 votes against and one abstention.

This financial instrument will now go through the appraisal of specialty commissions of the National Assembly (Parliament), before the final global approval.

 

The draft law, which should be definitively approved by December, foresees expenses and revenues estimated at 14.7 billion Kwanzas, having as reference the price of a barrel of oil of 39 USD.

 

In this 2021 State Budget (OGE), the government  proposes a budget of 39.5  per cent for the social sector.

 

Foreign exchange domain

 

In this regard, according to the OGE 2021 Rationale Report, the objective of the policy will be to guarantee the external solvency of the economy.

 

In relation to investment, the government intends to further improve the prioritization of the project portfolio of the Public Investment Programme (PIP), now supported by the Government Projects Monitoring Unit (UMAPE), adds the document.

 

As for active policies to promote and diversify domestic production, it will continue, within the scope of PRODESI and the initiatives of the Business Environment Improvement Project.

  

In 2021, this programme will enter an initial phase of privatization of State assets.

 

The discussion and approval of 2021 OGE, in general, was a single item on the agenda.

This financial instrument will now go through the appraisal of specialty commissions of the National Assembly (Parliament), before the final global approval.

 

The draft law, which should be definitively approved by December, foresees expenses and revenues estimated at 14.7 billion Kwanzas, having as reference the price of a barrel of oil of 39 USD.

 

In this 2021 State Budget (OGE), the government  proposes a budget of 39.5  per cent for the social sector.

 

Foreign exchange domain

 

In this regard, according to the OGE 2021 Rationale Report, the objective of the policy will be to guarantee the external solvency of the economy.

 

In relation to investment, the government intends to further improve the prioritization of the project portfolio of the Public Investment Programme (PIP), now supported by the Government Projects Monitoring Unit (UMAPE), adds the document.

 

As for active policies to promote and diversify domestic production, it will continue, within the scope of PRODESI and the initiatives of the Business Environment Improvement Project.

  

In 2021, this programme will enter an initial phase of privatization of State assets.

 

The discussion and approval of 2021 OGE, in general, was a single item on the agenda.