Luanda — The minister of State for Economic Coordination, José de Lima Massano, Wednesday in Luanda, reaffirmed that the government was fully committed to implementing measures to stimulate and boost the economy during the 2023 Fiscal Year.
Speaking at the opening of the 4th Ordinary Plenary Meeting of the National Assembly, dedicated to discussing and voting on the Draft Resolution on the Appreciation of the General State Account for the 2023 Financial Year, Massano highlighted the various actions centered on food security included in the 2023-2027 National Development Plan.
â€~The social impact of the state's financial execution policies can also be gauged by the improvement in Angola's ranking in the Human Development Index which, according to the most recent UNDP report, raises the country two places in the world ranking (148%), an above average growth,’ the minister.
According to the minister, during the 2023 fiscal year, efforts had been made to take advantage of the production support infrastructures that the country has available and the implementation of a package of measures had begun, including the institutionalization of seasonal agricultural credit and the protection of national production.
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The minister highlighted the capitalization of the Agrarian Development Support Fund (FADA), the Credit Guarantee Fund, the Venture Capital Fund and the optimization of the role of the Development Bank of Angola (BDA) in boosting essential production chains.
The measures, he said, led the country to reach, in 2024, the highest level of economic growth seen in the last ten years, with emphasis on the non-oil sector, which grew by around 1%.
â€~This result indicates that we are on the right path and we will continue on this path to achieve the goal of a diversified, sustainable and resilient economy with the capacity to ensure a good standard of living for the population,’ the minister said.
The Minister of State said that the reduction in the price of a barrel of oil and the contraction in domestic oil production of around 6.4 percent had resulted in a 40 per cent drop in revenue from the oil companies operating in the country.
He added that in the field of public accounts there was current revenue of 9 percent lower than in 2022, which was set at 13.1 billion kwanzas".
In 2023, there was an increase in the electrification rate of 43.45 percent, compared to 42.4 per cent in 2022, and a reduction in the overall malnutrition rate among children under five, from 38 per cent in 2022 to 11 per cent in 2024.
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The General State Account (CGE) includes the accounts of all the State's Central and Local Administration bodies, Services, Public Institutes and Autonomous Funds, as well as Social Security and Sovereign Bodies.
