Work of Ad-Hoc Commission on Public Investment and Autonomous Companies continues

During the session on 14th November, they heard a presentation regarding public investment, moderated by the First Secretary of the Senate Table, Martin Crisanto Ebee Mba, and regarding the preliminary study of the Draft Law on Spending Budgets for the 2019 economic period.

The Ad-Hoc Committee on Autonomous, State and Para-State Companies, overseen by the Second Table Spokesperson, Melchor Esono Edjo, was performing a preliminary analysis of the the various ideas included in the budget presentation for the forecast of income and spending for 2019 for Autonomous, State and Para-State Companies.

The execution data from the second quarter reflect the efforts of the Government to contain public spending and improve non-petroleum income, but weaknesses remain in the execution of the budget with regards to the volume of non-budgetary spending and direct payments, and the volume of exemptions.

According to the conclusions of the Government, in order to reach the budget targets, the need has arisen for the Executive to continue with the implementation of adjustment measures and economic discipline, in order to reactivate non-petroleum income.

Efforts in the application of the measures from fiscal and structural policy in the short term must continue, in order to respect the established fiscal deficit target, and thus achieve the goals of the programme established with the International Monetary Fund.

Source: Equatorial Guinea Press and Information Office

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