📋 Tender Overview
Angola recorded a positive current balance of 1.4 billion kwanzas during the third quarter of 2024, although it ended the period with a deficit of around 369.52 million, Finance Minister Vera Daves reported this Thursday in Luanda.
The minister was speaking at the National Assembly (AN), during the voting session of the State General Budget Execution Report for the third quarter of 2024.
He highlighted that, in this period, the country collected revenues worth 4.33 billion kwanzas and incurred expenses worth 4.70 billion, an increase of 22% compared to the same period last year.
He explained that the revenue collected in the months of July, August and September of the previous year showed an execution rate of around 18%, in relation to the annual revenue approved by the 2024 State Budget.
With regard to the relationship with external financiers, 322.47 billion kwanzas were disbursed and debt service was carried out in the order of 1.26 billion kwanzas.
Vera Daves also spoke about the public debt stock, which totaled, in the third quarter of 2024, around 58.88 billion kwanzas, with government debt accounting for 97% of that amount and the debt of public companies, namely Sonangol and TAAG, representing 3%.
When presenting the Joint Opinion Report, MP Nádia Monteiro highlighted that in the third quarter of 2024, contributions from the oil sector were 58%, exceeding those from the non-oil sector, which obtained 31%, while diamond revenues recorded a collection of 16% and an increase of 29%, compared to the same period last year.
In the area of ??expenditure execution by function, he explained, the Executive prioritized financial charges with a participation rate of 39%, followed by the social sector with a participation rate of 24% of total expenditure.
In executing the Public Investment Program expenditure, the Executive gave priority to the social sector, with a participation rate of 44%, followed by the real economy with 42%.
The parliamentarian stressed that, within the scope of the Public Investment Programme, around three thousand 248 projects were registered, of which 842 belonged to central administration bodies and two thousand 406 belonged to local administration bodies.
Of these, 542 projects were completed with a physical execution level of 100% and 601 projects recorded physical execution between 70% and 99%.
Regarding the KWENDA Program, 72,410 new families were registered and 11,670 beneficiaries were paid throughout the national territory.
On the other hand, he continued, it was found that PRODESI incurred expenses in the order of 175 million kwanzas, representing a very low level of financial execution, representing only 1% of the approved value.
In view of these indicators, the OGE execution balance report for the third quarter of 2024 highlights resilient performance amid significant economic challenges, taking into account the pressures arising from inflation.
The State General Budget Execution Report (REOGE) is a balance sheet and accountability document for the execution of the State General Budget (OGE), prepared quarterly by the Ministry of Finance, reflected in the Budget, Financial and Asset Balance Sheet and in the Statement of Asset Changes.
