Luanda - The Economic Commission of the Cabinet Council approved on Wednesday the Execution Report of the State Budget (OGE) for the second quarter of 2024, a statement of the meeting has said.
The document , which follows the National Assembly, presents, among others, information on the budgetary, financial and asset execution that provides an overview of the performance of the 2024 State Budget in the period in question.
Chaired by the President of the Republic, João Lourenço, in terms of budget execution, the 2024 State Budget presented an estimate of authorized revenue and expenditure of 24.72 billion kwanzas, the statement said.
It adds that in the second quarter of 2024, a total of 5.45 billion kwanzas was collected in revenue, while the expenditure recorded 4.63 billion kwanzas.
The revenue collected during the period represents an execution of around 22 percent in relation to the approved annual revenue, with current revenue corresponding to an execution of 26 percent and a share of total revenue of 70 percent.
Capital revenue in its turn amounted to 16 percent of the planned annual amount and a share of total revenue of 30 percent.
As regards to expenditure, current expenditure amounted to 22 percent of the one authorized for this year, with a share of total expenditure for the quarter of approximately 58 percent.
Capital expenditure, on the other hand, amounted to 15 percent of the expenditure budgeted in the 2024 State Budget and 42 percent of the total for the period.
A large slice of the expenditure allocated in the 2024 State Budget went to the social sector, with a budgeted value of around 4.98 billion kwanzas, with greater investment in education and health, with approved values of 1.57 billion kwanzas and 1.36 billion kwanzas, respectively.
In the period under review, the social sector received 1.03 billion kwanzas, equivalent to roughly 21 percent of the total budgeted amount, representing a weight of 22 percent over the total expenditure.
Speaking to the press, Finance Minister Vera Daves highlighted the fact that the State Budget Execution Report for the first quarter of 2024 will be sent to the National Assembly within the time limits established by the law.
The minister said the aim of this extraordinary meeting of the Economic Commission was precisely to ensure that the deadline established by law is respected.
The Economic Commission is the specialized body tasked with assessing and monitoring macroeconomic policy and management measures, as well as to formulate, promote and evaluate policies to promote growth in the real economy. DC/ART/TED/AMP
