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Economy

Vera Daves says that expenses that violate budget rules are “just a scab” for the country’s future

The Minister of Finance highlighted this Thursday that it is imperative that every expense paid by the State complies with legal precepts and that anything that does not respect the budgetary path “is just scab” for the future.

: Facebook Ministério das Finanças de Angola
Facebook Ministério das Finanças de Angola  

Addressing staff from state institutions and the Ministry of Finance this Thursday, during a seminar on the rules for implementing the General State Budget (OGE) for 2024, Vera Daves de Sousa, stated that improving the quality of execution budget is a "concern for every executive" and called for "responsible management".

"Managers are expected to strictly respect and apply the established legal precepts", stressed the head of the Finance department, highlighting that the execution of expenditure must successively follow the commitment, settlement and payment stages.

Vera Daves de Sousa considered it is imperative to ensure that no expenses are authorized or paid without observing established legal precepts.

"Anything that is done without respecting this ritual or this circuit is just scabs that we are creating to scratch our itches in the future (...), angry creditors, pressure, debts, certification, that 'nightmare' that we know ", continued the minister, strongly encouraging that everything be done to avoid this.

The minister highlighted that 2023 was a "challenging year for public finances", due to the reduction in revenue collection, which forced contingency measures including the capture of expenses to avoid the "unsustainability of public finances".

For 2024, she continued, there are still challenges, but she hopes to "retake the dynamic of regulating the uninterrupted execution of the OGE with all the rigor that is required".

Regarding the current OGE, she highlighted that it respects, "even more firmly", the essential principles that guide government action, in particular "legality, public interest, parsimony and transparency" under penalty of threatening macroeconomic stability and discipline tax, in addition to calling into question the integrity of the public financial management system and undermining confidence in the management of public resources.

"Budget execution must be effective and efficient on the revenue and expenditure side to maintain the integrity of the process", she added, stressing that it must translate into concrete gains for the lives of citizens and that "each kwanza is applied with transparency and without deviations from the intended purposes".

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