Management of Angola’s oil revenue internationally praised, minister says
[ 2006-05-17
]
Luanda, Angola, 17 May – Angola’s deputy minister to the prime, Aguinaldo Jaime, re-stated Tuesday in Luanda the government’s commitment to transparency and pointed out that its model for managing oil revenues had been praised on an international level.
“The Angolan experience of managing oil revenue was welcomed as being one of the best that the specialists (from the World Bank) have seen,” said Jaime.
Jaime admitted that, despite the endorsement, “some insufficiencies,” had been pointed out in the Angolan management system for those revenues, but played down the problem.
“These are minor insufficiencies, in terms of procedures, which do not invalidate the fact that the tax regime applied to the oil sector has been considered to be a exemplary on an international level," he added.
Jaime was speaking at the launch of a seminar on Oil revenue Management, which took place Tuesday in Luanda at the behest of the Finance Ministry and the World Bank.
Jaime also pointed out, as examples of measures adopted by the government for transparency and good governance, “The boost to institutional capacity in terms of macroeconomic management and the improved statistical system.” (macauhub)
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