“This is the only way to build a sustainable economy, free from the volatility and vulnerabilities we experience today and which result from dependence on a single export product [oil]”, he stated, during the discussion of the execution balance of the General State Account (CGE) for 2023, which took place this Wednesday at the National Assembly.
Massano highlighted that the economy's performance that year was influenced by an adverse international environment, marked by restrictive monetary policy measures adopted by the central banks of the world's main economies.
Still, he pointed out the positive impact of State policies that was reflected in the improvement of Angola's position in the Human Development Index (HDI).
According to the United Nations Development Programme (UNDP) report published in May, Angola rose two places in the global ranking, going from position 150 to 148, among 193 countries evaluated.
The Secretary of State for the Budget, Juciene Cristiano dos Santos, revealed that, in 2023, revenues worth 20.33 billion kwanzas were collected, which represents an execution of 101 percent of the General State Budget (OGE). Expenses, in turn, totaled 20.1 trillion kwanzas, corresponding to 100 percent execution and a 22 percent increase compared to 2022.
The executive highlighted that the increase in expenses was mainly due to higher charges for debt interest, subsidies, employer contributions and other transfers. The overall budget balance pointed to a surplus of 235.57 billion kwanzas.
The Secretary of State also highlighted that 2023 marked the beginning of a new cycle of governance and the continuity of structural reforms, with a visible impact on internal revenue collection and the expansion of public debt maturities.
