15 January 2013

Angola: President Addresses Message to Parliament On 2013 General Budget

Photo: oneVillage Initiative

Luanda — The Angolan Head of State José Eduardo dos Santos, Tuesday addressed a letter to the MPs on draft General Budget (OGE) for 2013, submitted at the 3rd legislative session of National Assembly.

In his letter, read by minister of State and Chief of Civil Office of the Presidency of the Republic, Edeltrudes Costa, the head of Executive states that the drafting of budget based on the national development plan for 2013/2017.

Among the goals set in document, stress went to the preservation of national unity and cohesion, guarantee of basic conditions necessary for the development, improved quality of people living standards.

Other aspects have to do with the integration of youth in the labour force, the development of private sector and competitive inclusion of Angola in the international context.

"As for its macroeconomic policy, the strategic objective is to create conditions of stability, effectiveness and efficiency of the economy with a view to ensuring the long-term sustainable development," the letter states.

It also stressed that the specific objectives aimed at sustainable reduction of inflation to one digits.

This will enable obtaining the current positive and global budget balances focussed on equilibrium, exchange rate stability, the emptying of unofficial market function to reorganise the financial system.

In order to materialise these objectives, the letter stresses, the government developed fundamental action programmes guided by the objectives to monitor the inflation, the sustainability of public accounts, exchange rate stability and financial regulation of the sector.

According to the letter from the Head of State, the year of 2011 recorded the lowest inflation rate in the economic history of Angola, which allowed to reach, in 2012, an inflation rate of one digit.

The 3rd ordinary legislative session of National Assembly, is chaired by the National Assembly Speaker Fernando da Piedade Dias dos Santos and is tasked with debate and approval of the General State Budget for fiscal year 2013.

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