Luanda - The General State Account for the year 2021 closed with a positive balance of 4.28 billion kwanzas (AOA), the Minister of Finance, Vera Daves de Sousa said on Thursday in Luanda.
Speaking at the National Assembly (AN), during the assessment of the balance sheet of the General State Account, she underlined that, regarding the budget balance, the closing was a nominal surplus of 793.99 billion kwanzas.
The document, presented by the minister to the National Assembly, indicates that in 2021, the domestic debt service stood at AOA 4.51 billion, of which around AOA 3.31 billion correspond to payment of principal and AOA 1.20 billion payment of interest and commissions.
On the other hand, external debt service amounted to around AOA 3.09 billion, of which around AOA 1.85 billion were used to pay amortizations and AOA 1.24 billion in interest and commissions.
In December 2021, the stock of Government Debt stood at AOA 36.75 billion, equivalent to 66.2 billion dollars (USD) and was made up of 71% external debt, worth AOA 25.97 billion, equivalent to USD 46.79 billion, and 29% of domestic debt worth AOA 10.78 billion, equivalent to USD 19.43 billion.
The debt stock of Public Companies, namely Sonangol E.P. and TAAG, E.P., amounted to AOA 2.4 billion, equivalent to USD 4.3 billion.
In this perspective, in 2021, the stock of Public Debt, which includes Government Debt and Public Companies Debt, reached AOA 39.16 billion, equivalent to USD 70 billion.
The 2021 OGE estimated revenues and expenses of AOA 14.75 billion, and showed revenue collection of AOA 15.22 billion and execution of expenditures of AOA 14.42 billion, resulting in a nominal surplus worth AOA 793.99 billion.
On the other hand, it should be noted that, in the period under review, the Fiscal Balance was also in surplus in the order of AOA 1 billion, and the Current Balance amounted to AOA 3.49 billion, demonstrating that current revenues were sufficient to cover the Current expenses.
Total raised revenue
The document also mentions that current revenues amounted to AOA 10.1 billion, corresponding to an execution above the forecast of 125% and a share of approximately 66% of total revenue.
Capital income amounted to AOA 5.12 billion, corresponding to an execution of 77% and a share of total income of 34%.
Current expenditure in the amount of AOA 6.61 billion, corresponding to an execution of 89% in relation to the authorized expenditure, and a share of the total expenditure of 46%.
Capital Expenditure in the amount of AOA 7.81 billion, corresponding to an execution of 108% in relation to the authorized expenditure, and a share of the total expenditure of 54%.
In 2021, expenses were incurred to mitigate and combat the adverse effects of Covid-19, in the order of AOA 142 billion, of which AOA 132.11 billion were intended for general Covid-19 expenses and AOA 9.16 billion for the construction of field hospitals.
As part of the Vaccination Plan against the Covid-19 virus, around AOA 104.57 billion were disbursed, earmarked for the acquisition of around 22,946,400 doses of Sputnik, Sinopharma and Jansen vaccines.
For the 2021 financial year, the State Inventory presented a net asset value of AOA 5.25 billion, having seen a slight reduction of 3% compared to the previous year.
In 2021, the State received dividends in the country, paid by six entities, in the order of AOA 1.84 billion, and abroad in about USD 73.57 thousand.
With regard to the Privatization Programme, until 2021, 33 companies were privatized, resulting in a contracted value of AOA 442.40 billion, having constituted resource entries in the Single Treasury Account (CUT) in the amount of AOA 425.84 billion.
For the 2021 financial year, the Remaining Payable totalled AOA 1.28 billion, with a significant positive variation of 30% compared to the same period last year. The stock of floating debt, in turn, amounted to AOA 5.38 billion and Funded Debt to AOA 29.83 billion, respectively.
The General State Account is expressed in a document of more than 500 pages. HEM/PPA/DOJ
