Angola’s Minister of Finance, Vera Daves de Sousa, ruled out the possibility of a new adjustment to fuel prices in the near future, stressing that any decision will depend on the assessment of mitigation measures currently being designed.
Speaking to the press, the Finance Minister said that a continuous evaluation is being carried out, based on the mitigation measures outlined and the efficiency gains expected from subsidized companies, in order to minimize the impact as much as possible.
“As long as this process is not completed, there will be no new adjustment in fuel prices,” she assured.
This year, diesel prices were adjusted twice: from 200 to 300 kwanzas per liter on March 24, and from 300 to 400 kwanzas on July 4. This measure forms part of the gradual adjustment of retail prices of petroleum derivatives toward market levels.
Other regulated products — namely gasoline, kerosene, and Liquefied Petroleum Gas (LPG) — have remained unchanged.
Regarding the Financial System Assessment Report recently presented by the International Monetary Fund (IMF), and the risks related to Angola’s external debt, the Minister assured that the authorities will continue to share with the IMF all measures being implemented to ensure the sustainability of public finances and optimize the debt portfolio.
She emphasized that the government will also continue to update the IMF on actions underway concerning public expenditure, broadening the tax base, and modernizing the fiscal system, so that the Angolan state is perceived as fully capable of honoring its commitments.
Source: Angop
