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Govt approves development plan for 2021

Sat, 24 Oct 2020 12:08 - Updated Sat, 24 Oct 2020 12:08

Luanda - Angolan government approved Friday the Annual National Development Plan for 2021.

This was at an ordinary session of the Cabinet Council’s Economic Commission, chaired by the President, João Lourenço.

The document identifies the priority actions (projects and activities) to be developed by different bodies, included in the National Planning System.

According to the Commission’s press release, the document also covers all actions of the National Development Program (PDN) 2018-2022, for next year.

It includes 70 Action Programmes of medium and long term’s National Development Plan for 2018-2022, to be implemented through 8,815 priority actions.

"The Annual National Development Plan for 2021 constitutes the basis for the 2021-General State Budget", underlines the statement.

As part of the review of the regulatory framework, which serves as a basis for the functioning of the insurance sector, the Commission analysed the proposals of the General Law on Insurance and Reinsurance Activity, as well as the Procedural Regime Applicable to Special Crimes in the Insurance Sector and Pension funds.

With the first diploma, which updates the regulatory framework of the insurance sector, the Angolan Executive intends to regulate various aspects.

They include the conditions of access and exercise of the insurance and reinsurance activity, reorganisation and liquidation measures for insurance and reinsurance companies in financial difficulty.

The second diploma (Procedural regime applicable to special crimes in the insurance and pension funds sector) aims to give an independent treatment to this regime.

The objective is fill the gaps that currently exist in the attribution of powers for the treatment of transgressions, the application of fines, accessory penalties, as well as for the investigation of the case, in the event that the accused does not comply with the decision rendered by the Supervisory Body of insurance activities.

The Friday's session also approved the Regulation of the Basic Law of the General Regime of the National Planning System.