Africa Angola Economy Finance Tax

Angola Finance Minister reiterates elimination of poor management of treasury

The managers of the treasury should be excelled by responsibility for state purposes and eliminate the poor management of public expenditures, appealed on Monday in Luanda, the Finance Minister Archer Mangueira.

The minister, who was speaking at the closing ceremony of the seminar on Public Expenditure Execution in the State Budget (OGE) 2017, defended the need for the expenses to be adjusted to the current context of the country’s economy, which requires greater responsibility and attitude of the managers.

“The poor execution of the expense is the one that does not generate added value for families, companies and the State. It is the one that does not operate transformations in the social stabilizers and that neither generates employment nor boosts the quality of the work”, he said.

He added that this “bad spending” practice has forced the state to charge more taxes now and in the future, in addition to incurring debts.

According to the minister, it is important to make a good budget, which is supported by realistic assumptions and capable of inspiring optimism and setting the stage for development, a requirement that he believes is contained in OGE 2017.

To him, the elements shared in this event will help managers and officials at all levels to comply with the basic principles of budget execution.

The Ministry of Finance has only the responsibility of coordinating and supervising the execution of the OGE, but the execution process itself must be interactive, according to Archer Mangueira.

The seminar on Public Expenditure Execution in the State Budget was addressed to cabinet officials, provincial governors and municipal administrators.

During the event, topics were discussed on innovation of public procurement legislation, annual rules for the Execution of the Budget and captivation of expenditure.

The challenges in attracting internal and external financing, as well as the challenges for tax revenues, were other issues addressed at the seminar.

Source: Angop

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