Ver Angola


Government approves 2022 debt plan valued at 6.88 billion kwanzas

The Economic Commission of the Council of Ministers approved this Tuesday the Annual Indebtedness Plan 2022 valued at 6.88 billion kwanzas to finance the General State Budget (OGE).


According to the Minister of Finance, Vera Daves, 6.88 billion kwanzas are the country's current need for financing the OGE 2022, noting that 56 percent of the amount will be mobilized in the foreign market and the rest domestically.

Of these, "30 percent will represent treasure tickets", said the official this Tuesday at the end of the first ordinary meeting of the aforementioned commission, at the Presidential Palace, in Luanda, by the President, João Lourenço.

Vera Daves also reported that the country's current public debt is valued at US$62.5 billion.

According to the press release from this meeting, the 2022 Annual Indebtedness Plan "materializes the State's financing strategy" within the scope of the OGE execution process.

"Taking into account the internal and external funding sources and considering a level of indebtedness within the limits considered sustainable", reads the statement.

The Economic Commission also approved the Public Funds Restructuring Program (PRFP), "as an instrument that contributes to the optimization of the management of public resources, it aims at "conforming to a unitary legal framework, which regulates its creation, structuring and operation".

The regime applicable to fees and fees charged by the Gaming Supervision Institute (ISJ), within the scope of the activity of operating games of chance, social games, remote online games and similar games, was also approved at this session.

The authorities point out the relevance of this regime applicable to the fees and emoluments charged to ISJs, as this constitutes a source of diversification of the OGE's revenues.

At this Tuesday's meeting, the "Memorandum on Angola's Tariff Offer Proposal" was also approved, within the framework of the African Continental Free Trade Area, an essential document for the implementation of the Free Trade Area in the country, which must establish the " form of phasing out import duties on products originating in States party to the agreement".

A memorandum containing the assumptions and actions to be implemented within the scope of operationalizing the Strategic Food Reserve was also approved.

The statement emphasizes that the memorandum "consists essentially of ensuring the creation of an ecosystem that allows the promotion of national production of products that constitute the 'stock' of the Strategic Food Reserve, "facilitating access to inputs, such as seeds, fertilizers".

The memorandum also aims to "ensure the purchase of surplus national production of products designated in the Strategic Food Reserve", he points out.

At the meeting, the National Bank of Angola (BNA) also presented data on the update of the terms and conditions of the notice on the granting of credit to the real sector of the Angolan economy, the balance of payments report and international investment position, with the global balance of the balance and the net position of international investment "was positive" in the order of 1.6 billion dollars.


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