Economic Commission assesses budget grounding

Luanda – The Economic Commission of the Council of Ministers on Thursday approved the law proposal and the grounding report for the General State Budget (OGE) for 2019.

According to the press release of the Secretariat of the Cabinet, with this state budget, the Government will continue to pursue the plan of implementation of a more balanced , rigorous and sustainable fiscal policy while maintaining the trend of gradual reduction in the fiscal deficit.

The meeting, chaired by President of the Republic, JoAPound o Lourenco, also analyzed a draft presidential decree approving the regulation of repatriation of Financial Resources Act, in order to establish the terms and conditions of application of the repatriated funds, voluntary and coercive.

The regulation of the law on the repatriation of financial resources should also indicate the legal regime of the authorization for the issuance of public debt securities in foreign currency, under the terms of the Law on Repatriation of Financial Resources, recently approved by the National Assembly.

The 10th ordinary meeting of the Economic Commission of the Council of Ministers approved the project to promote and attract private investments in Angola (PROCIP).

According to the note, PROCIP aims to stimulate economic transformation and diversification, private sector development, as well as productivity and competitiveness of the economy, in line with the aspirations of the National Development Plan (NDP) by 2022.

Source: Angola Press News Agency