IMF and EU support improvement of public finance in Angola

11 December 2019

The technical assistance programme managed by the Fiscal Affairs Department of the International Monetary Fund (IMF) and funded by the European Commission will introduce permanent improvements in public finance management in Angola, the minister of Finance said on Tuesday in Luanda.

Minister Vera Daves, quoted by the Angop news agency, also said that the areas where improvements will be introduced are linked to public debt, the General State Budget, public accounting, treasury, public investment and tax collection.

Daves said that this programme has three specific goals for the next three years, namely the improvement of laws that support the management of public finances and the effectiveness of the country’s institutions, particularly through the adoption of fiscal responsibility law.

Setting up conditions to prepare a more comprehensive budget, which is stricter and more credible, based on more sustainable policies, is another goal, as well as monitoring and effective management of fiscal risks and their impact on the management of public finances.

The Draft Public Finance Management bill is based on the recommendations of the Department of Fiscal Affairs of the IMF and the Regional Technical Assistance Center for Southern Africa (Afritac South) and is part of the objectives of the team of the Ministry of Finance, according to Daves.

For this project, to be implemented by the IMF over a period of three years, the European Union has provided €5 million. (macauhub)