The head of State, H. E. Obiang Nguema Mbasogo oversaw the Council of Minister session, the second of the year, on 11th July.
The session began with the approval of the agenda, followed by a reading and approval of the minutes and the synthesis report from the previous meeting, presented by the Prime Minister, Francisco Pascual Obama Asue.
For his part, the Minister for Finance and Budgets, Lucas Abaga Nchama, in his speech, spoke about projects such as the liquidation of the general State budgets for the 2017 economic period, the modification to the general State budget for 2018, and the progress in their execution to 31st March.
Abaga Nchama presented to those present the reports on the execution of the general State budgets for the first quarter of the year; the setting of new ceilings for income for ministerial departments, and the updated report on negotiations with the International Monetary Fund and the World Bank.
The Government also heard justifications for the current account income for the months of April, May and June of 2018, and the report on the ratification process for the Membership Agreement for Equatorial Guinea of AFRE-XIM-BANK, signed in the city of Malabo on 6th June, presented by Lucas Abaga Nchama.
During the course of the meeting, they also heard a speech by the Vice-Minister for Trade, Alberto Doria Lajay, who presented the report on the operations of the Single Business Window.
In any other business, Francisco Pascual Obama Asue presented the report on the meeting with autonomous institutions for the adoption of measures guaranteeing operations and profitability.
Source: Official Web Page of the Government of the Republic of Equatorial Guinea