Africa-Press – Angola. The Angolan Government’s accumulated expenditure on fuel subsidies, in 2023, totaled 2.30 billion kwanzas, which represents an increase of 16.38% compared to the previous year.
In nominal terms, the Executive’s spending resulted in an increase of 324.13 billion kwanzas, compared to the previous year, according to a press release from the Ministry of Finance this Tuesday.
In quarterly terms, State expenditure on fuel subsidies totaled 938.56 billion kwanzas, during the fourth quarter of 2023, which represents an increase of 50.97%, compared to the third quarter of the same year.
This expense also represents a nominal variation of 316.89 billion kwanzas.
According to the document, in year-on-year terms, expenditure on fuel subsidies increased by 102.01%, representing a nominal growth of 473.95 billion kwanzas.
In the period under analysis (fourth quarter of 2023), there was also a 3.14% reduction in expenses with subsidies for lighting oil and an increase of 39.22% in expenses with subsidies for Liquefied Petroleum Gas (LPG).
The note also highlights a positive variation of 52.95% in expenses with gasoline subsidies, as well as a 129.03% increase in expenses with diesel subsidies.
According to the Ministry of Finance, expenditure on subsidies for diesel and gasoline showed the biggest variations compared to the same period last year.
For More News And Analysis About Angola Follow Africa-Press
