Ver Angola

Energy

Fuel subsidies increased by 137 percent in the 2nd quarter of 2024

Angola spent more on fuel subsidies in the second quarter of 2024, a growth of 136.73 percent, which represented 340 billion kwanzas above the same period last year.

: Lusa
Lusa  

According to a note from the Ministry of Finance, the State spent 588.8 billion kwanzas, a reduction of 17.99 percent compared to the first quarter of 2024.

The reduction between the first quarter of 2024 and the period under analysis represented a negative variation of 129.1 billion kwanzas.

In the second quarter of 2024, there were increases, compared to the previous year, in subsidies for illuminating petroleum (140.10 percent), liquefied petroleum gas (157.06 percent), gasoline (134.68 percent) and diesel oil (134.52 percent).

"Expenses with subsidies for liquefied petroleum gas and illuminating oil showed the greatest variations in relation to the same period last year", says the note from the Ministry of Finance.

The Government has been carrying out a process of gradually withdrawing fuel subsidies, resulting in an increase in the price of diesel in 2024, after impacting the price of gasoline in 2023.

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