Ver Angola

Economy

International partners to evaluate performance of public finance management

The Ministry of Finance will carry out a diagnosis of public finance management, through a mechanism supported by international partners, it was announced.

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The performance evaluation of public finance management in Angola, using the PEFA methodology ('Public Expenditure and Financial Accountability Program'), will be supported by the French Development Agency (AFD), from the European Union (EU) delegation in Angola, from the Swiss embassy in Angola, supported by the International Monetary Fund (IMF), the World Bank and the African Development Bank (AfDB).

In a joint statement, the Ministry of Finance and development partners said that a mission to assess Angolan public finances will be launched this month.

For Angolan authorities and partners, the results of the assessment "will give a global view" of the state of public finance management in the country and will constitute "a necessary basis for determining the improvements needed to achieve greater efficiency and transparency in the use of public resources".

"This diagnosis will be carried out by the end of the year and is in line with the Angolan Government's objective of improving the management of public finances in the country", the document reads.

The monitoring of public finance management, they note, "is crucial for the continuity of budgetary discipline, reveals the performance of resource allocation and the level of efficiency of public services" financed by the State Budget (OGE).

The AFD, the EU, the Swiss Embassy, ​​together with the IMF, the World Bank and the AfDB, point out in the statement the importance of the PEFA methodology in this process as a "standard for analyzing and presenting the strengths and weaknesses of the management system public finances of a country or institution ".

"Through quantitative indicators defined in a standard methodology, PEFA provides a picture of the public finance management system at a given moment and can be replicated in successive assessments, which in the EU allows monitoring of the evolution of the system's performance over of the time, "the statement said.

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