Today, December 4th, 2020, begins the 2021 General State Budget Law Proposal detailed debate, in the National Parliament.
After the overall vote, which took place on Wednesday, December 2nd, in which the document was approved with 44 votes in favour and without abstentions or votes against, the Budget will now be analysed in detail article by article. A total of 64 of amendments proposed by Members of the National Parliament will also be considered. On December 18th, the document will be subject to a final global vote.
The General State Budget for 2021 presents a series of methodological changes that aim to bring the budget closer to the best international budgetary practices, improving the conceptual quality of the General State Budget, harmonizing the presentation of information and increasing its transparency. For the first time, the expenses of the General State Budget are now presented and specified by programs, in addition to the already used organic and economic classifications. This new form of presentation makes it possible to provide more information to Parliament, specifically on the objectives of budgetary allocations.
The Prime Minister at the presentation of the Law Proposal stated that this Budget was “developed in response to the unprecedented challenges that our Nation faced in 2020” and that “it is committed to economic growth, resolving the gaps in our social protection, investing in health care and education, in a stronger workforce and in job creation ”.
The expenses of the Central Administration’s bodies and services amount to USD 1,797.2 million, with the following budget allocations, accordingly to their economic classification: US$ 228.2 million for Salaries and Wages; US$ 397.3 million for Goods and Services; US$ 694.9 million for Public Transfers; US$ 58.8 million for Minor Capital; and US$ 417.7 million for Development Capital.
The Oe-Cússi Ambeno Special Administrative Region has a total planned expenditure of US$ 127 million, and the Social Security expenditure is US$ 177.3 million.