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Wed, 15 Jul 2020 09:51 - Updated Wed, 15 Jul 2020 09:51

Angolan President guarantees continuous execution of PIIM

Luanda - The President of the Republic, João Lourenço, guaranteed last Tuesday that the Integrated Intervention Programme in Municipalities (PIIM), despite the downtrend review of the General State Budget (OGE/2020) in about 15.75%, will continue to be implemented along the year 2020.

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President João Lourenço

Photo: Cedida pela fonte

In the message sent to parliament, on the occasion of the debate in general terms of the revised OGE/2020, read by the minister of State for Economic Coordination, Manuel Júnior, the head of the Executive Branch reassures that the various projects included in the PIIM have resources allocated in this budget review.

According to the Angolan Head of State, "very special attention" will be paid to the recently approved Integrated Plan for the Acceleration of Agriculture and Family Fisheries, in order to increase production and productivity in rural areas and fight hunger and poverty.

"For this purpose, it’ll be of great contribution the fact that the Executive has taken the measure to reduce VAT and apply to agricultural inputs from 14% to 5%", he considered.

According to the President of the Republic, State purchases, with emphasis on supplying the Armed Forces and the National Police, should continue to prioritize the acquisition of national production.

In order to strengthen the country's private sector, the Executive intends to continue, for the rest of the year 2020, with the process of privatization of companies and other State assets, a measure that also aims to make the economy more efficient and consolidate the process of building the market economy.

''All these measures, including those that aim at the improvement of the business environment in Angola, will contribute to support our businesspersons, increase the trust of economic agents in our economy, thus, boosting national production, the levels of private investment and employment”, predicted the statesman.

In the message, President João Lourenço also spoke of the country's fiscal consolidation effort, whose objective is to increase economic growth which, in turn, will lead to increased levels of employment and the well-being of the population.

Even in the face of a particularly difficult picture of public finances, he said, “the Executive has made a great effort to protect the social sector, with special emphasis on education and health, which in this revised budget will have their shares in spending incremented”.

João Lourenço was convinced that the way forward is to continue the reforms of the state, the financial expression of which is in this proposal to review the General State Budget.

“We must avoid entering into an unsustainable situation from the point of view of our public finances, which would have serious consequences for the country's economic and social life”, expressed the Head of State, calling for the current difficulties to be seen as temporary and stimulating the feeling of hope and confidence in the future.

The Revised State Budget proposal, due to the global macroeconomic changes imposed by the covid-19 pandemic, estimates revenues of 13.4 billion kwanzas and fixes expenses at the same amount, representing a drop of 15.75%.

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