Africa-Press – Angola. The elimination, at this moment, of the fuel subsidy by the Government is still not recommended, taking into account the high inflation, the high level of unemployment and the difficulties that Angolan companies already face on a day-to-day basis to operate.
This is the view of Fausio Mussá, chief economist at Standard Bank, during an “online” presentation of the 1st Economic Briefing, when he was answering questions raised by an internet user.
This year, “Angola is expected to continue to use some fiscal surplus to continue to support this expense”, he added.
Angola has one of the lowest prices among the countries of the Southern African Development Community (SADC) due to fuel subsidies, with which it spends more than one billion dollars annually (882 million euros).
The withdrawal of subsidies was one of the requirements of the International Monetary Fund (IMF) which, however, ended up not being implemented during the financial assistance program whose sixth and final evaluation was completed in December.
Fausio Mussá highlighted that the IMF program was successful and helped to give credibility to the Angolan Government’s reforms, improving communication with foreign investors.
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