5 December 2017

Angola: Economists Point Out Inflation Control Measures

Luanda — Besides an increase in the exchange rate, there is a need for better supervision of commercial activities and increase of internal production for the containment of inflation, experts defend.

Contacted by ANGOP, in the ambit of the recent monetary measures of the National Reserve Bank (BNA), which has raised the exchange rate from 16% to 18 per cent, the economists Lopes Paulo and José Severino defended a combination of policies to fight inflation.

Lopes Paulo said to ANGOP that the increase in the interest rate will change immediately the currency price in commercial banks.

With such situation, the expert explained, the families will reduce consumption and the entrepreneurs will find it more difficult to have access to treasury and investment credits.

He explained that the current inflation scenario is not caused by excess of currency in the economy, it is caused by the scarcity of products supply. Therefore, he went on to explain, it necessary a boost in the internal production, aiming to avoid the importation of goods and services.

He said it is also necessary to be aware of and control possible speculative bubble resulting from the scarcity in the supply of goods and services.

On his turn, the chairman of the Angolan Industrial Association (AIA), José Severino, said that the BNA measure was already expected, so this will stabilise the prices in the market.

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