Angola: Economic Commission Assesses Evolution of Monetary, Exchange Markets

Luanda — The Angolan Cabinet Council?s Economic Commission on Monday in Luanda assessed the Memorandum on the evolution of the monetary and exchange markets for the period that goes from 09 to 13 December, having concluded that the inflation rate for November decreased by 7.94 per cent.

The final communiqué of the 15th ordinary session, chaired by President José Eduardo dos Santos, states that the Economic Commission learnt of the assessment report on the implementation of the new Exchange Framework for the Oil Sector, relating to the third quarter of 2013.

The gathering equally analysed the Assessment Report on the Public Investments Programme for the third quarter of 2013.

The Economic Commission also analysed the debt acquisition plan for the year 2014, having decided that the debt acquisition programme is to be financed by 4.9% of the Gross Domestic Product (GDP), as well as analysed other internal and external sources of financing.

Another document discussed by the Cabinet ministers was the Presidential Decree draft which authorises the Finance minister to engage in credit operations, both in the internal and external markets.

ANGOP has learnt that these credit operations will serve to finance the 2014 State's General Budget (OGE), as well as the draft financial programme of the OGE for the first quarter of next year.

The meeting also discussed matters relating to the Commercial Policy proposal, whose objective is to boost trade in the country, encourage a diversified production of goods and services, so as to respond to the needs of the domestic market and increase exports, in line with the 2013/2017 National Development Plan, among other economic issues.

The Economic Commission is chaired by the Head of the Executive, namely the President of the Republic, José Eduardo dos Santos, assisted by the Vice President.

The referred commission also comprises the ministers of Planning and Territorial Development, Finance, Economy, Public Administration, Labour and Social Security, and Trade, as well as the Governor of the National Reserve Bank (BNA).

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