The financial forecasting diploma, whose initiative comes from the holder of the Executive branch, will now be sent to the specialty commissions, before the final approval, scheduled for December.
Expenses and revenues are estimated at 14.7 billion kwanzas, with the reference price of a barrel of oil at 39 dollars.
The funds proposed for the different sectors in 2021 are mostly for the social sector (39.5 percent), with health and education being provided with 5.6 percent and 6.83 percent, respectively. The two sectors have an approximate weight of 12.5 percent in the budget.
The expected inflation rate stands at 18.7 percent, with the non-oil product growth rate at 2.1 percent.
According to the fiscal projections, the next year is expected to have a deficit overall balance of 2.2 percent of GDP and a primary surplus balance of 4 percent of GDP. According to Angop, this reveals the dimension of the impact of interest on tax expenses.
In terms of gross financing needs, the amount of 6,862.8 billion kwanzas is estimated, corresponding to 16.3 percent of GDP. This figure represents a reduction of 6.4 percentage points in relation to the approved OGE this year.
With regard to investments, the Executive shows a willingness to prioritize the portfolio of projects of the Public Investment Program (PIP).
The diversification of the economy is also a point of interest in the budget, and will continue to go through PRODESI.
Privatization of state assets will also continue as a priority, leveraging by PROPRIV.
Parliament met with the discussion and approval of OGE 2021 to be the only item on the agenda, with the session lasting over six and a half hours.
