The information was transmitted this Friday by the Minister of Finance, Vera Daves, considering it unreasonable that the aggregate assets of the SEP correspond to 51.4 percent of the nominal Gross Domestic Product (GDP) and that the annual turnover corresponds only to to 16.9 percent.
"This scenario reinforces, as is evident, the urgent need to implement the roadmap for the reform of the SEP, looking at its various dimensions, since the State in the provision of services in sectors that are still central, although We want to test models that allow better results and capture the interest of the private sector", stated Vera Daves de Sousa.
Speaking at the opening of the 2023 Public Business Sector Meeting, where aggregate results of the SEP in 2022 are presented, the official signaled that the Government "intends, more and more, to abandon" the logic of subsidies and permanent recapitalizations in the sector.
The minister said that the Government continues to record a high flow of State resources to companies, in the form of operating subsidies and capitalization, a scenario that should be reversed.
Operating subsidies and capitalization to SEP companies, he explained, together required the General State Budget at 466 billion kwanzas in 2022.
As a counterpoint, noted Vera Daves, this magnitude of resources that are still spent by the State, the dividends received were in the order of 2.2 billion kwanzas.
"However, it is fair to recognize that these numbers remove full visibility to the work that has been carried out in terms of management and financial results of some public companies, which are beginning to pay dividends to the State", she stressed.
According to the minister, the proposed SEP reform thus highlights the urgent need to improve the financial autonomy of companies, eliminate permanent sources of fiscal risk and create adequate incentives for companies to be profitable and pay dividends to the State shareholder.
The minister defended that companies in which the State is a shareholder "should seek to be more efficient in their operations, maximize the profitability of their assets and promote the development of the national economy".
"The idea that a public company does not have to be productive, does not have to be profitable and does not have to be efficient is therefore pernicious. This way of being in the management of public affairs is unacceptable", she shot.
Regarding the aggregate results of the SEP in 2022, Vera Daves said that it has generally played its role, admitting, however, that "there is still a lot to do in reporting, in reporting on time and in reporting with quality".
The minister highlighted that 67.7 percent of SEP companies registered, in the financial year 2022, earnings before interest, taxes, depreciation and amortization.
The proportion of companies with approved accounts without reservations was 32.4 percent, an increase of 13.6 percentage points compared to 18.8 percent in fiscal year 2021.
For the minister, the results "can and should be better", calling on SEP companies to start "reporting fully within the established deadlines and with the quality that is required".
He also referred, in his speech, that the body he supervises continues to work to improve the SEP: "This is the only way we can go", he pointed out, noting that the process needs the involvement and commitment of the management and inspection bodies. , external auditors and other actors.
