Ver Angola


Country cannot continue to use international reserves for imports and must organize itself to produce

The Minister of State for Economic Coordination, José de Lima Massano, considered that the country cannot continue to use international reserves to meet import needs, arguing that Angola must “organize itself to produce”.

: Ampe Rogério
Ampe Rogério  

Lima Massano also said that if "the use of international reserves to meet these deficits" continues, a "picture of great insecurity in the medium and long term" could be reached.

"If we look at what we are importing, we can easily conclude that the country has to organize itself to produce. Products that the country is capable of, from the outset, to turn around, to be consistent, because we use international reserves to meeting these deficits and holding the national currency, when the change is structural, we would not be consistent, because then the pressure would be on the currency, but we would also be in a situation of great insecurity in the medium and long term", said the government official, quoted by Rádio National of Angola (RNA).

"Today we have resources to take care of and ensure the external solvency of our economy and we are in a position to, in a scenario of any calamity in which it is necessary to resort to foreign currency, have international reserves for this purpose. So we cannot attack, in quotation marks, international reserves to solve problems that are not transitory, these problems have to be solved in a more structural way," he added.

The minister also considered, cited by RNA, that they have "an industrial park that, by African standards, is respectable", therefore there is a need to put it into operation. "We have an industrial park that, by African standards, is respectable, so we have to get it working, even if, in some cases, raw materials are imported, but we have to quickly get out of this situation (...)", adding: "We must have the capacity to put our industrial park into operation."

Lima Massano also announced that it was decided, for the first time, to establish a credit line to support commercial producers. "We also took the decision, this is the first time it has happened, to establish a line of credit to support commercial producers. We talk a lot here about family farming, but we are also counting on commercial agriculture and we are counting on commercial agriculture as well to boost family farming", he pointed out, quoted by RNA.

Among other measures to stimulate production and investments, the Minister of State pointed out some changes in the VAT payment process: "To stimulate production and investments, we allow VAT to be paid in 24 months, so whoever is going to bring the equipment will not You have to pay VAT up front, you have 12 months, if you are going to start a business, you have 24".

"To help, we are also finalizing a piece that has to do with the corporate income code. We want to unify the industrial tax, the capital investment tax and the property tax, but all of them with the purpose of putting our economy actually working", he added, quoted by RNA.


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