Angola: Executive Approves New Policy for Angola's Strategic Food Reserve

Luanda — The Economic Commission approved on Tuesday the policy that defines the minimum reference prices for the acquisition and eventual building-up of stock for the Strategic Food Reserve (REA) with widely consumed products from national production, in the short, medium and long terms.

With this measure, the Executive intends to contribute to the stability of the food supply, in quantity and price, in order to mitigate possible market disturbances and allow access to essential products at non-speculative prices in rural and urban consumption centers.

The document approved at the 7th Ordinary Meeting of the Economic Commission of the Council of Ministers, under the guidance of the President of the Republic, João Lourenço, also foresees promoting the increase in national production to minimize the need of imports.

Subsequently, the Economic Commission of the Council of Ministers approved the Legal Regime Applicable to the Acquisition of Widely Consumed Goods and Incentives for National Production, a diploma that contains provisions that aim to stimulate national production.

The Legal Regime highlights the State's obligation to acquire nationally produced consumer goods and products with a "Made in Angola" stamp, and also the 'Non-Automatic Licensing of imports and exports of consumer goods.

Under these terms, import licenses will only be granted for goods that are not produced in national territory in sufficient quantities to meet domestic demand, and export licenses for goods that are in excess of national needs.

The financial programming of the National Treasury, referring to the IV Quarter of 2023, was another document approved by the Economic Commission of the Council of Ministers.


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