Ver Angola


Government spent 1.9 billion kwanzas on fuel subsidies in 2022

The Government spent 1.9 billion kwanzas on fuel subsidies in 2022, 60 percent more than the previous year, according to the annual report by the Institute for the Management of State Assets and Participations (IGAPE).

: Ampe Rogério
Ampe Rogério  

Total costs amounted to 2.6 billion kwanzas, 50 percent more than in 2021 and were not proportional to the increase in the quantities purchased since only 16 percent more metric tons were purchased than in 2021 (4667 million compared to 3995 million in 2021).

Two-thirds of subsidies were spent on diesel, followed by gasoline, liquefied petroleum gas (LPG) and illuminating oil.

Angola is the fourth country in the world where it is cheaper to fill a fuel tank, sharing with Nigeria the status of the largest oil producer in Africa, but it imports a large part of the fuel it consumes, having only one refinery in operation (the one in Luanda ) and another three in the design or construction phase (Soyo, Lobito and Cabinda).

The Government has already said that it intends to gradually withdraw fuel subsidies, which do not reflect price fluctuations in the international market, but the issue is pending a political decision that has been postponed, despite the assistance program of the International Monetary Fund (IMF) , completed last year, provide for this measure.

According to data from the Global Petrol Prices website, a liter of diesel cost, on May 8, 135 kwanzas, while a liter of gasoline was worth 160 kwanzas.


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