ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Wed, 11 Dec 2019 17:29 - Updated Wed, 11 Dec 2019 17:29

Angola reduces imports by 10%

Luanda - The volume of the country's total imports fell by 10 percent from January to October this year, compared to the same period last year, said Deputy Governor of the National Bank of Angola (BNA), Tiago Dias.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

Angola reduces imports this year

Photo: Nelson Malamba

Such reduction, according to Tiago Dias, who spoke at the press conference on "Financing the Economy", promoted by the Ministry of Economy and Planning, is the result of the measures taken by the Government.

In  terms of food imports alone, the Central Bank saw a decrease of 21.7% when compared to the same period (January to October) of 2018.

He said that if these measures were not taken, the country would see a worsening in the current account of the balance of payments, and in the same period as a result, export earnings would be reduced by 19.4%.

"If we had not reduced imports, the current account would have a deficit and, consequently, we would have an extremely negative impact on the balance of payments of the country," said the deputy governor of the BNA.

Over the 10-month period from January to October this year, At least USD 1.3 billion was spent on imports of staple goods and other priority products.

Tags Economy  

Read also
  • 11/12/2019 12:25:21

    EU and IMF assistance to improve financial management

    Luanda - Angola’s Finance minister, Vera Daves, on Tuesday said she believes that the technical assistance provided by the European Union (EU) and the International Monetary Fund (IMF) will improve public finances management capacity in Angola.

  • 10/12/2019 20:00:34

    EU grants 5 million to support transparency

    Luanda - The European Union has granted five million euros for the implementation of Angola's Economic Governance Support Program, with a view to improving budget transparency and the effectiveness of public spending.

  • 10/12/2019 19:40:32

    Soyo refinery public tender opens until January

    Luanda - The Ministry of Mineral Resources and Oil (Mirempet) has extended from 18 December 2019 to 30 January 2020 the deadline for the submission of bids for the international public private investment tender for the construction of a refinery in Soyo, northern Zaire province.