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State Budget review cuts construction projects by 55%

Tue, 11 Jun 2019 13:04 - Updated Tue, 11 Jun 2019 13:04

Budget review with cuts in construction and public works (archive) Photo: José Cachiva

Luanda - Projects submitted to the Public Investment Program (PIP) / 2019 of the Ministry of Construction and Public Works registered a reduction of 55.5% equivalent to 144 billion Akz, under the recent State Budget review.

The data were presented Monday by the director of the Office of Studies, Planning and Statistics of the referred Ministry, António José Morais.

António José Morais presented the five-year public works plan 2018/2022, in a meeting with provincial deputy governors.

For 2019, initially 185 projects had been entered, totaling AKz 323.6 billion, but due to the State Budget Review the amount was reduced to 144 billion Kwanzas, the official said.

He emphasized that the current economic situation has conditioned the implementation of the actions assigned to the sector, within the framework of the implementation of the Executive programs.

In 2018 the Construction and Public Works sector had 149 projects registered, and the AKZ 167 billion was approved for their execution.

António José Morais said that the elaboration of the five-year Plan was aligned with the Long-term “National Strategy for Development Angola 2025".