Meeting of the Ad-Hoc Commission on Autonomous, State and Para-State Companies

The Ad-Hoc Commission, overseen by the second spokesperson from the table, Melchor Esono Edjo, met on 13th November in Sipopo, for the preliminary study.

Taking into account that the project for the General State Budgets for the 2019 economic period aims to consolidate the regulation of State public finance, and current economic and fiscal policy, the Ad-Hoc Commission charged with the preliminary study of the budget presentation for the 2019 economic period met to analyse the situation in each company and their results, and subsequently make a note of doubts and concerns in the document that will soon be presented before the Senate Plenary session for clarification by the Government.

Within this context, the overall budget figures for autonomous bodies and State public companies for the 2019 period appear optimistic, according to the introductory mote for the project for the 2019 budgets, and the minutes submitted by the Chamber of Deputies to the Senate, read by the commission secretary, Teodoro Nze Mangue, which indicate that the 2019 budget was drawn up within a framework of fiscal adjustment, in order to maintain and preserve balanced fiscal accounts, and to contribute to a fiscal policy that will allow the reactivation of the economy and the boosting of the private sector.

These budgetary forecasts present a positive balance, at some 34% higher that the previous period, if it is taken into account that the total current account income is going up by 27%, and current account spending is going up to 17% higher than in 2018, while capital income and spending have reached 42% and 35% higher that the 2018 forecasts.

On the same day the Ad-Hoc Commission on 2019 Public Investment also met, It was overseen by the First Spokesperson from the Table, Martin Crisanto Ebee Mba, and it carried out a preliminary analysis of public investment from the General State Budgets for 2019, which hits 457,530 million Franco CFA, meaning a fall of 14% with respect to 2018, taking into account the current context of the crisis and the policy of project prioritisation.

Source: Equatorial Guinea Press and Information Office

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