The Government of Angola will make adjustments to the fuels subsidies, but some sectors like agriculture, transport, fisheries and butane gas will continue to benefit due to their social importance.
This was said to Angop by the Oil minister, José Maria Botelho de Vasconcelos.
The minister was speaking on the fringes of the first International conference on taxes in the annual cycle, efficacy of incentives to economic development and the problematic of fiscal exemption held from May 15-16.
Botelho de Vasconcelos said on the occasion that adjustments to fuels have been there for the last five years, adding that the policy currently in force seeks to subsidise economic sectors that have an impact on the development of the society.
This is a matter that has been analysed over the ongoing five year period, as a result of the evolution we have been noting in terms of their production. We will make some adjustments which have already been made since 2011, he stated.
The Angolan State spends annually more than Akz 300 billion on fuels subsidies in the country.
Angola imports about 85 percent of the fuels it uses. In 2011, the Angolan Oil Company (Sonangol) benefited from State subsidies estimated at Akz 700 billion.
1997 – 2008 Angop