Finance minister reassures unity principle on Budget
Luanda 3/7/09 - The Angolan minister of Finance, Severim de Morais, guaranteed Thursday in Luanda that the State’s General Budget continues to stick to a “golden rule” that consists of the principle of unity and oneness.
The minister expressed this conviction when he was explaining the issues submitted by some MPs from the opposition parties during a session at the National Assembly on the proposed review of the Budget and the National Plan for 2009.
Severim de Morais reassured the MPs that the proposed budget includes all expenses and the state revenue, embodied in the three powers: legislative, executive and judiciary, as well as the expenditures of the organs of sovereignty.
The proposal of general budget review foresees fiscal income estimated at AKz 1.615,2 billion, against AKz 2.371,5 billion initially planned, and proposes tax expenditures estimated at AKz 2.371,5 million, against 2.848 billion of the first budget.
It points to a fiscal deficit of AKz 756,3 billion, equivalent to 15.2 percent of GDP, far above the predicted value which was of USD 448.7 billon corresponding to 7.7 of GDP.
To cope with the impact of economic and financial crisis, in the level of macroeconomic, the programme has as the priority to ensure the macroeconomic stability, reduction of the slowing down degree of GDP growth rate, significant improvement of economic regulation and competition.