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Mon, 09 Mar 2020 12:33 - Updated Tue, 10 Mar 2020 08:39

Angolan government to withdraw fuel price subsidy

Luanda - Angola is considering withdrawing fuel price subsidy effectively, however the measure is being treated with caution due to its impact, the Finance Minister Vera Daves said on Saturday.

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She went on to say that the government has been seriously reflecting about the matter. “We want to avoid a very strong impact. We want to ensure that the impact is as small as possible, and because we know the potential impact, the decision has not yet been taken”, the minister said.

The minster, who was speaking at a meeting with journalists, said the government continues reflecting on the best moments and perhaps the gradual implementation of the measure, with a view to creating an environment where there is more employment and increased income of the families.

Vera Daves explained that the government is seeking to prevent a scenario where families reach the middle of the month without money to pay for transportation.

According to the minister, there is huge difference in oil price practiced by neighbouring countries and that of Angola, considerable quantity of fuel is bought, which are paid by Angolan taxpayers and then sold to neighbouring countries.

Research shows that the Angolan state spends more than 3.5 billion US dollars annually on subsidizing fuel prices.

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