Ver Angola


First half brought savings in the order of 300 million with food imports

Angola continues to make an effort to favor local products, at the expense of imports. Proof of this is savings in the order of 300 million dollars in the first half of this year in the field of food imports.


The data were released this Thursday, in Luanda, by the Minister of State for Economic Coordination, Manuel Nunes Júnior. According to the minister, in the first six months of 2020, Angola consumed US $ 980 million in imported food products, against the 1.3 billion in the same period in 2019. These figures represent savings of more than US $ 300 million.

The minister justified these figures with the stabilization of the foreign exchange market. The fact that there was a variation in the exchange rate and a greater depreciation of the national currency made imports more expensive, forcing economic agents to bet on national production, giving up on imports.

Manuel Nunes Júnior also announced that more than five hundred requests for financing have already been approved, under the initiatives of the Credit Support Program, with emphasis on the financing of more than 300 cooperatives in the fields of agriculture, livestock and fisheries. According to Angop, the total provided exceeds 140 billion kwanzas.

He also mentioned that the Integrated Rural Trade Development Program, approved this year, will allow production to reach large consumption centers, a way to create wealth for producers, eliminate waste and once again reinforce the bet on national production.

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