Luanda - The Angolan government posted, in the first, second and third quarters of the 2020 financial year, revenues of 7.7 billion kwanzas and represented an execution of 58 percent of the revised General State Budget (OGE).
The figures were presented by the Minister of Finance, Vera Daves, on presenting the reports on execution of the OGE for the 1st, 2nd and 3rd quarters of 2020 at the National Assembly (Angolan parliament).
According to the Cabinet minister, current revenues were 93 percent implemented, accounting for 67 percent of the total amount collected, whilst capital revenues were 29 percent implemented, accounting for 28 percent of the total amount collected.
Current revenues refer to oil and diamond revenues and other taxes, such as Value Added Tax (VAT), Labour Income Tax (LTI), Real Estate, Property and those resulting from social contributions and from sales, internal and external funding.
The government said that expenditure, in the three quarters under review, totalled 8.7 trillion kwanzas, representing execution of 65 percent against the revised OGE.
In the session with members of parliament, she said that current spending had been 71 percent implemented, with a share of 46 percent of the total amount collected, whilst capital spending had been 61 percent implemented, with 54 percent of the total amount collected.
According to the minister, in terms of current expenditure the main items were civil service pay, employer contributions, goods and services, interest on debt and subsidies, among others.
The social sector had the greatest weight, with implementation of 66 percent of the total amount authorised and a share of 35 percent of total expenditure, followed by the defence sector, which accounted for 32 percent of total expenditure, having implemented 76 percent of the total amount authorised.
The economic sector, meanwhile, according to Vera Daves, executed 67 per cent of the total amount with a share of 18 per cent of total expenditure, while the general services sector executed 70 per cent of the total amount authorised, with a share of 15 per cent of total expenditure.
