The Council of Ministers, chaired by the Head of State, João Lourenço, on Friday, for submission to the National Assembly, the draft law approving the revised State Budget for this year, "an essential measure to adjust spending decisions and revenue projections to the constraints imposed by the current global and national economic context, characterized by the strong negative impact of the pandemic caused by covid-19", reads the note released after the meeting.
The new budget foresees revenues and expenses of 13,588,678,595,437.61 kwanzas, based on the reference price of 33 dollars per barrel of oil, "with a reduction of about 14.9 percent in relation to the GSB 2020, initially proposed".
In addition, on Friday the government made a mid-term evaluation of the National Development Plan (PDN) 2018-2022 and approved the action plan for 2020-2022, which has as its main objectives "to ensure that the evolution of the real growth rate of non-oil GDP remains positive; to continue with the consolidation of public finances, in order to ensure the progressive reduction of public debt; to improve, from year to year, the indicators of the Human Capital Index and achieve an improvement in the social inequality index, through the reduction of regional asymmetries".
The Council of Ministers also referred to Parliament, after appraisal, the draft law on the Sustainability of Public Finances, "a legal instrument that promotes fiscal discipline in a reliable, predictable and transparent manner, and establishes the rules and processes that govern the implementation of the State's fiscal policy, based on the principles of budgetary and financial stability and sustainability, with a view to inclusive, sustainable economic growth and job creation".
The members of the Government also gave the green light to the Global Airport System Strategy, which aims to "promote the growth of the civil aviation sector, foreign and domestic direct investment, and the strengthening of security in the sector's operations", in addition to "aligning the quality of service with good international practices", through an improvement in infrastructure, human resources and services provided by the country's different airports.
A new Regulation on the Activity of Credit Guarantee Companies was also approved, as well as the Self-Invoicing Legal Regime, among other measures.
