Angola: Government Assesses Process of Withdrawing Fuel Subsidies

10 January 2024
Angola Press Agency (Luanda)

Luanda — The Minister of State for Economic Coordination, José de Lima Massano, said on Wednesday in Luanda that the Angolan government is organising the process of withdrawing price subsidies in different sectors, including fuel.

According to the minister, who was speaking to the press on the sidelines of the first 2024 edition of 'CaféCipra', the country 'is not limited to the removal of gasoline subsidies, for example', as it also has issues in other sectors, such as transport, electricity and water, on the agenda.

'We still have the scenario of great concerns, but we are not limited only to gasoline and diesel, because we have issues such as transport, electricity and water. Therefore, we are still organizing and in due course we will make the possible corrections and we will share them with everyone,' he said.

The gradual withdrawal of gasoline subsidies in Angola began on June 2, 2023, a measure by the Angolan Government that raised the price of this petroleum product from 160 to 300 kwanzas/liter (current price).

This price does not cover taxis and motorcycle taxis, as well as the productive sector (agriculture, fisheries, industry, among other areas) which continue to benefit from the State subsidy.

At the time, the Minister of Finance, Vera Daves, said that the gradual rise in the price of gasoline will allow the State to save 400 billion kwanzas between 2023 and 2024, representing a weight of 40% in fuel subsidies.

However, the process of partially cutting fuel subsidies in the country will run until 2025, the estimated period for the end of the total subsidy of gasoline and diesel.

Under the motto 'Impact of private investment in the productive sector', the first edition of 2024 of 'CaféCipra', promoted by the Press Centre of the Presidency of the Republic of Angola (CIPRA), was also facilitated by the Minister of Agriculture and Forestry, António Francisco de Assis, Minister of Industry and Commerce, Rui Miguêns de Oliveira, and the Chairman of the Board of Directors of AIPX, Lello Francisco. QCB/AC/DOJ

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