The 2022 General State Account maintained the objectives of macroeconomic stability, the defense of family and business income, as well as incentives for the diversification of the country’s economy, said the Minister of State for Economic Coordination, José de Lima Massano, this Tuesday.
The government official, who was speaking at the National Assembly, on the occasion of the analysis and final global vote on the Accounts Opinion Report for the Fiscal Year 2022, reaffirmed that during this period there was a balance in public accounts, which resulted in growth of 3.1% in the year in question.
In the view of the Minister of State, the 3.1% growth consolidated the exit from the five years of recession observed between 2016 and 2020, with a positive evolution in practically all sectors, with emphasis on the oil performance, which registered a positive variation of 0.5% after nine years of contraction.
He said that, despite the growth, the year was marked by a new cycle of uncertainty generated by the beginning of the military conflict between Russia and Ukraine, as well as by the significant increase in interest rates to combat inflation that has been reaching high levels.
In the field of economic and budgetary policy, he said that the Executive proceeded, in 2022, with the execution of the public investment program included in the General State Budget (OGE), with emphasis on the Integrated Intervention Plan in Municipalities (PIIM), in a public investment aimed at promoting an increase in the quality of life in the country.
The leader highlighted that the PIIM had a strong impact on several sectors such as health, education and teaching, transport, energy and water, agricultural and livestock production, road infrastructure, telecommunications and information technologies.
Regarding inflation, he reiterated that it stood at 13.86% with an impact on price stability of 50% when compared to 2021.
José de Lima Massano recalled that the execution of the 2022 State Budget took into account the Public Finance Sustainability Law, a management instrument that aims to improve the implementation of fiscal policy, providing discipline and predictability in budgetary management.
In 2022, public debt fell by 18 percentage points compared to the previous year, standing at 65% of Gross Domestic Product (GDP).
During the period in question, the Minister of State highlighted the conclusion of the Expanded Financing Program between Angola and the International Monetary Fund (IMF), which began in 2018, resulting in the strengthening of external accounts and greater sustainability of internal accounts, as well as the perception of risks in the country by the main international rating agencies.
He reaffirmed that revenue collection stood at 19.66 billion kwanzas, representing an execution of 105% compared to the approved OGE, while expenses stood at 16.43 billion kwanzas, which allowed a surplus of 3.2 billion kwanzas.
The fiscal balance was also in surplus in the order of 536.1 billion kwanzas, corresponding to 1.02% of GDP.
On the same occasion, the Minister of Finance, Vera Daves de Sousa, highlighted that the report contains 20 chapters and highlighted that the unemployment rate was lower compared to the previous year, standing at 29.6 percent.
According to the government official, in the year under analysis, the State was less indebted than in 2021, capital revenues were 74%, around 5.27 billion kwanzas.
He announced that during this period the State had expenses of kwanzas 16.43 billion, of which current expenses were kwanzas 7.57 billion, capital expenses were kwanzas 8.86 billion, and that execution was 96% of the total forecast for capital expenses and 79% for current expenses.
The minister added that public debt had a 45% share of execution at 7.36 billion kwanzas.
The social sector benefited 22% with 3.58 billion kwanzas, followed by the defense and security sector with 2.0 billion kwanzas (13%), the general public services sector 2.1 billion and the economic sector with 1.3 billion kwanzas.
The General State Account comprises the accounts of all central and local government bodies, services and institutes, autonomous funds, as well as sovereign bodies. OPF/VC
2024-08-13 16:34:46