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Angola continues fuel subsidy cuts, with costs reaching 3.8 trillion kwanzas

By , based on Mercado

Angola continues fuel subsidy cuts, with costs reaching 3.8 trillion kwanzasmaccanti · CC BY 2.0

Angola will continue gradually reducing fuel subsidies, which are expected to cost 3.7 trillion to 3.8 trillion kwanzas, compared with the 1.7 trillion initially budgeted. Secretary of State for Finance and the Treasury Ottoniel dos Santos also announced plans to expand the use of public tenders, according to the Lusa news agency.

Angola will continue gradually reducing fuel subsidies, Secretary of State for Finance and the Treasury Ottoniel dos Santos said in an interview with the Lusa news agency, reported by Mercado. The government also wants to expand the use of public tenders to control state spending, strengthen competition and promote economic diversification.

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