ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Tue, 31 Dec 2019 13:16 - Updated Tue, 31 Dec 2019 13:16

Government's programmes leverage domestic output

Luanda - Angolan government implemented in 2019 an economic programme that promises to leverage domestic production and boost economic diversification at a time when the country is seeking efficient solutions to recover from the financial crisis, which began in 2014.

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

Moxico: Machines for agricultural works in Camaiangala farm.

Photo: David Dias

The Credit Support Programme (PAC) was created last February to bolster the implementation of the National Production, Export Diversification and Export Substitution Programme (PRODESI) in progress since 2018.

The two programmes replace the extinct Angola Investe (launched in 2011), and focus on large-scale domestic production of 54 goods to save expenditures of foreign currency, reduced imports and promote exports.

The PAC comes to support the financial component of PRODESI, whose purpose is to reduce imports of various goods to Angola, which spends over five billion dollars annually on the purchase of goods produced on a small scale.

On average, Angola spends 250 million of US dollars month to import food, a figure that the government wants to change with PRODESI.

Tags Angola   Angop  

Read also
  • 30/12/2019 20:12:26

    Fisheries sector invests in research

    Luanda - The launch of the first underwater scientific research vessel, in August, for the conservation and use of oceans, seas and fishing resources, marked the achievements of the Fisheries sector in 2019.

  • 30/12/2019 11:16:04

    VAT revolutionizes tax base structure

    Luanda - Angola once again registered, in 2019, a tough economic year marked by the adoption of several measures aiming to re-launch the economy and achieve an increase in the tax base, with highlight on the implementation of the Value Added Tax (VAT).

  • 05/12/2019 11:50:55

    Angola plans to increase oil output in 2020

    Luanda - Angola plans to increase oil production in 2020 by increasing from 1.390,000 barrels of oil per day to 1.436,000, the minister of Mineral Resources and Petroleum, Diamantino Azevedo, said on Wednesday.