Ver Angola


Government appreciated OGE proposal for 2023 of 20.1 billion kwanzas

On Thursday, the Council of Ministers considered the proposal for the General State Budget (OGE) 2023, with revenues and expenses estimated at 20.1 billion kwanzas, considered "balanced" by the Minister of Finance.


Speaking to the press, at the end of the meeting chaired by the President, João Lourenço, the Minister of Finance, Vera Daves de Sousa, said that the OGE proposal, with a reference price of 75 dollars per barrel of oil and an average oil production of 1.18 million barrels, "is balanced", with a positive balance of 0.9 percent.

Vera Daves stressed that the proposed budget for the 2023 financial year prioritizes the social sector, with a weight of 23.9 percent over total OGE expenditure, public services, with 12.5 percent, the economic sector, with 10.1 percent, and the defense, security and public order sector, with 8.6 percent, with the remaining 45.1 percent earmarked for debt operations.

"The proposal comes like this, with 1.5 billion kwanzas for education and 1.3 billion kwanzas for health", informed the minister.

Alongside the social sector, the minister stressed, the economic sector is also prioritized.

"It is planned to make a large capitalization investment in Banco de Desenvolvimento de Angola and in FRACA [Fundo Activo de Capital de Risco Angolano] to boost PRODESI [Programme to Support Production, Diversification of Exports and Substitution of Imports] and implement Planapecuária, Planapescas and Planagrão and in this way contribute to the increase in non-oil tax revenue", said Vera Daves de Sousa.

The proposal envisages an inflation rate of 11.1 percent at the end of the period, as well as a recovery of the economy, with real Gross Domestic Product (GDP) growth of 3.3 percent, compared to growth of 2. 7 percent predicted for 2022.


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