8 February 2013

Angola: Cash Flow Budget for February Approved

Luanda — The cash flow budget for February this year was approved Thursday in Luanda during a session of the Economic Commission of the Cabinet Council, with revenues of Akz 293,9 billion and expenditures of Akz 212,9.

The information was released by the minister of Finance, Carlos Alberto Lopes, at the end of a session chaired by the head of State, José Eduardo dos Santos.

The minister stated that of the global amount of the revenues (Akz 293,9 billion), about 208 billion proceed from oil sales.

He explained that 38,9 percent will go to expenditures with staff, 17 percent to goods and services, 16 percent to capital, 14 percent to debt service and 7 percent to subsidies.

Carlos Alberto Lopes said that the Economic Commission also discussed the annual financial programming and the financing for the first semester of this year.

However, the minister said that these are instruments that will be made operational after the approval of the State Budget for 2013, on February 14, by the National Assembly (Angolan Parliament).

According to the minister, the concerned framework law states that the Executive must use the cash flow budget while the State Budget is still to be approved, based on the duodecimals of the previous year.

On the other hand, the minister of Planning and Development, Job Graça, said the Cabinet's Economic Commission reviewed the executive draft decree that sets the lines for the drafting of reports of assessment of the national planning instruments.

The minister added that the purpose is to standardise the structure and content of the sectoral and provincial reports, to serve as a basis for the ministry to consolidate the report to submit to the head of the Executive, before it is used by the Finance Ministry to produce the State's general account.

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