News & Announcements
26/02/2015: President addresses message to Parliament on revised draft state budget
The initiative is intended to adjust the Fiscal Policy provided by the general budget to the new perspectives of national macro-economic planning for the current year and the new international economy and financial reality. "
Without compromising the objectives recommended by the Government, he said, the review is based on the reassessment of estimated revenue.
He also said that the draft revision is laid down in an average price of a barrel of oil estimated at USD 40, corresponding to the estimated average price of export of crude oil barrel to the current year.
The president also spoke of reduction of public expenditure; increasing tax revenues; maintaining stability in the general level of prices, economic growth supported by the process of diversification of the economy and the level of net international reserves; continuity of support to the social sectors programmes.
The implementation of the budget for 2015 will require adoption of enhancing measures, reinforcing the regulatory role of State, containment expenditure in the public and administrative and public-entrepreneurial sector as well as
management measures and contingency management, reads out the message.
The president said that the growth of Gross Domestic Product (GDP) for 2015 was revised downwards from 9. 7 to 6.6 percent, but the economy should accelerate, compared to the growth rate of 4.4 percent recorded in 2014.
In his message, read by the Minister of State and Chief of Civil Office of the President of Republic, the head of State stressed that the achievement of revised 2015-State Budget requires an increased commitment in terms of quality and judicious use of public expenditures, both government bodies or public companies.
At the end of the message, the President called for the need to accelerate the productivity growth and eliminate the wasteful use of resources and national assets, whether public or private.