23 November 2012

Angola: Government Pays Attention to Inflationary Effect of Monetary Base

The Cabinet Council's Economic Commission assessed last Thursday the National Treasury cash plan for December in order to take measures to avoid inflationary tendencies, informed the minister of Finance.

Carlos Lopes spoke to the press at the end of a meeting of the Cabinet Council's Economic Commission, led by the Head of State, José Eduardo dos Santos.

The minister said he fears there will be some pressure on the treasuries, especially because the public servants will receive salaries in advance, including the yearend bonus (known as 13th month pay), reason why the commission pays attention to the need of making available the necessary resources for this period and at the same time guarantee the stability of the monetary market.

The minister informed also that during the meeting an assessment of the implementation of the National Treasury cash plan of October was make, as well as the approval of a report of fiscal and exchange policies.

Minister Carlos Lopes informed also that it was presented a report on the coordinated actions between the Ministries of Finance and Oil, related to the management of oil production and income.

"The fiscal accounts are robust and the monetary accounts are also in line with the policy of the executive in this field, knowing that the combination of these two components pursue macroeconomic goals that have been established in the National Plan", he explained.

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