Angola reduces import volumes

Luanda – Angola’s volume of imports dropped from USD 4.2 billion to USD 1.4 billion in the last five years, the minister of Economy and Planning, Mário Caetano João, has said.

Mário Caetano João said that the decrease owed to the implementation of the Production Support, Export Diversification and Import Substitution Programme (PRODESI).

The official, who was speaking at the 1st Edition of CaféCIPRA, said that the amount was spent on five products, such as rice with USD 216.97 million, chicken USD 200.50 million, cooking oil USD130.19 million, palm oil USD 119.29 million and sugar USD 105 million.

“Imports of basic foodstuffs have fallen in recent years, with an accumulated reduction of around 30 percent,” said the minister, adding that in 2021 the country spent USD 1.361 billion on food imports.

Macro-economic gains

In the context of macro-economic gains, the official highlighted the diversification of the economy, the implementation of the Privatization Programme (PROPRIV), and the revision of the Private Investment Law.

The minister also spoke, among others, of the reform of the tax system (implementation of VAT), greater financing for the productive sector of the real economy, as well as the reversal of the trajectory of successive deficits in fiscal balances (primary and global).

The strategy resulted in the reduction of the public debt stock from USD 80 billion, in 2017, to USD 70 billion, in 2021, in addition to the liberalisation and stabilisation of the exchange rate, reduction of the gap between the informal and formal market rates of 159 percent in 2017 to less than 4 percent in 2021.

Exports with PRODESI

In contrast, the minister put the PRODESI’s exports at around USD 66 million. The exports benefited five countries, such as Republic of the Congo, Democratic Republic of the Congo, Namibia, Cameroon and Portugal.

Among the exported products, he highlighted cement, beer, glass packaging, bananas, juices and soft drinks.

As for the Deutsche Bank (Germany) credit line, without specifying the amount, he announced that recently ten new national projects were approved and are awaiting financial disbursement, thus joining the Leonor Carrinho group, then the only beneficiary of this credit line for the private sector.

New markets for export

At the meeting, Victor Fernandes, minister of Industry and Commerce, said that Angola can and should seek new markets for its exports, particularly in Africa, which has around 1.4 billion consumers.

In his speech, the official said that there will be greater flexibility in visas for Angola, in particular for investors.

CaféCIPRA is an open, direct and not moderated dialogue gathering government officials and representatives of civil society.

Source: Angola Press News Agency

President wishes success to newly appointed officials

Luanda – Angolan President João Lourenço has wished success to the Angolan ambassador to Qatar António Coelho Ramos da Cruz, during the swearing in ceremony held at the Presidential Palace on Friday in Luanda.

Sworn in was also deputy governor of south-east Cuando Cubango province for Technical and Infrastructure Services, João Bonifácio Cassanga.

I would like to wish success to those sworn in for the functions in which they were appointed, stressed the statesman.

Until his appointment as ambassador to Qatar, António Coelho Ramos da Cruz was director of the Directorate of Legal Affairs, Treaties and Litigation of the Ministry of Foreign Affairs.

As a diplomat, he represented Angola in Germany and Namibia as well as in the Permanent Mission of Angola to the United Nations in New York, United States of America.

Cooperation between Angola and the Asian country covers air and maritime transport, suppression of visas in diplomatic and service passports, as well as in the reciprocal promotion of investments.

Source: Angola Press News Agency

Parliament recommends granting credits to national producers

Luanda – National Assembly (AN) has recommended the Executive to adopt faster mechanisms for granting credit to national producers of essential goods.

The recommendation is expressed in the Report on the Execution Balance of the Second Quarter of the General Budget of the State 2021 (OGE).

The document was appreciated Friday during a meeting of the Commissions for Economy and Finance, Constitutional and Legal Affairs and State Administration and Local Power of the Parliament.

The specialised commissions also recommended the distribution of agricultural inputs, irrigation equipment, rehabilitation and construction of small and medium irrigation schemes, in the regions affected by the drought, as part of Combat Hunger and Poverty Programme.

Inflation control

Parliament wants the Government to exercise strict control over inflation, under the Memorandum on Stabilisation of Food Prices and Increase in Supply, as well as to carry on the fiscal consolidation process, with a view to ensuring balance and the recovery of Public Finances.

The meeting also recommended the need to continue including people in income-generating activities, such as actions to promote micro-credit, construction and operation of social infrastructure, social action in municipalities and social provision to needy families in vulnerability situations.

Increase in revenue

The MPs also expressed the need to encourage an increase in diamond revenue, taking into account the volume of investment that the sector has been registering.

The document encourages the Government to rigorously monitor revenue collection and expenditure execution, carried out by provincial governments and municipal administrations, in order to provide balance in the management of the treasury.

The AN also wants the Executive to give priority to the completion of existing works and the rehabilitation of the country’s main road axes, as part of the implementation of the Public Investment Programme (PIP), as well as actions aimed at strengthening the fight against crime. economic, financial and corruption.

Accountability

As part of the principle of transparency and good governance, the Parliament recommended the adoption of strict measures so that budget units comply with the deadlines for rendering accounts, especially diplomatic missions and municipal administrations.

2021 budget

The execution of the 2021 General State Budget in the second quarter stood at 22 percent, with the budget balance recording a surplus of 101.8 billion Kwanzas.

Financing revenues reached 23.68 percent of participation, the amortization of public debt represented 38 percent of total expenditure, and investments consumed 10 percent of total expenditure.

The Public Debt balance stood at 44.6 Billion Kwanzas, equivalent to USD 69 billion Dollars, comprising 94 percent of Government Debt and 6 percent of Public Companies Debt.

The Budget balance recorded a budget surplus of Kz 101.8 billion, while the financial balance recorded a positive result of Kz 832.8 billion.

Regarding the Balance Sheet, there was a significant reduction of 99.44 percent of fixed and financial assets, as well as the significant liquidation of 54.91 percent of long-term debt.

Source: Angola Press News Agency

Church authority calls for moderation in political speeches ahead of 2022 elections

Luanda – Angolan Christian Forum leader Luís Nguimbi appealed Friday for moderation in political speeches during the upcoming electoral campaign, ahead of the country’s general elections scheduled for August 2022.

Speaking to the press, at the end of an audience granted by the President of the Republic, João Lourenço, the Rev. advised politicians to stick to morale boosting speeches.

Luís Nguimbi noted that in electoral speeches, politicians should boost morale of the militants of the parties they represent and young people, in particular.

The president of the Angolan Christian Forum also discouraged acts of vandalism, whose aim is the destruction of public goods.

Other audiences

The President João Lourenço also received in, separate audiences, the leader of the Teosófica Espírita Church, prophetess Suzete João, and Reverend Dinis Eurico from the Evangelical Church of Angola.

“We talked about the importance of family farming and the strengthening of the programme to fight poverty”, said Suzete João.

In turn, the leader of the Evangelical Church of Angola, the meeting also aimed to analyze the situation in the country, in general, and the drought that affects some regions of southern Angola, in particular.

Rer. Dinis Eurico said that he had encouraged the President of the Republic to continue implementing the projects aimed at minimizing water scarcity in southern region of Angola.

Source: Angola Press News Agency