Luanda, 31 Oct (Angop) – The Angolan Government handed over Wednesday the draft State General Budget (OGE) for 2020 to the National Assembly, which foresees expenses and revenues of 15 billion kwanzas, more 4.5 billion compared to the OGE / 2019.
Among other things, the budget prioritizes fiscal consolidation, with particular emphasis on debt control and the revival of economic activity.
The speaker of the National Assembly, Fernando da Piedade Dias dos Santos, received the document from the State Minister for Economic Coordination, Manuel Nunes Júnior, who was accompanied by the Minister of Finance, Vera Daves, among other members of the Government and advisers of the President of the Republic.
On the occasion, Manuel Nunes said that in 2018 the overall balance of public debt settlement recorded a fiscal surplus of 2.2% of GDP and by the first half of this year reached 1.3%, counteracting the negative trend that reached 90% since 2014.
It foresees by 2020 a positive jump of 1.2% of GDP, which considers the safest way out of the “debt trap”, which generally obliges the country to take on debt to pay off debt, maintaining the 2018 surplus path.
The Minister of State foresees with the 2020 State Budget a recovery of economic growth in the order of 1.8, in which the non-oil sector will have an increase of 1.9%, with emphasis on the agriculture, fisheries and manufacturing sectors, to reverse the negative results recorded since 2016.
