Guinea-Bissau’s state budget approved by majority

18 July 2013

The state budget of Guinea-Bissau, which includes a deficit of 47 percent, was approved on Wednesday in Bissau by a large majority (88 of 100 votes) in the national parliament, reports Portugal’s Lusa news agency.

The budget indicates spending of 102 billion CFA francs (US$204.4 million) and revenues of 54 billion CFA francs (US$108.2 million), implying a deficit of 48 billion CFA francs (US$96.2 million).

The presidency minister and transition government spokesman, Fernando Vaz, said that approval of the budget and government programme meant that “conditions have been created to hold presidential and legislative elections in November.”

Vaz said support was expected from the international community, most of which does not recognise the transition government and has frozen all budget supports so that Guinea-Bissau can quickly return to a normal constitutional situation.

The largest shares of the state budget are earmarked for the ministries of education and infrastructures, followed by defence and finance. (macauhub)