The Angolan government is gradually removing fuel subsidies, following International Monetary Fund recommendations. This measure aims to eliminate a cost that, according to the country's finance minister, has nullified the gains obtained through oil prices.
The finance minister explained that the ultimate goal is to completely eliminate this cost. Fuel subsidies have been progressively removed, in a strategy aligned with IMF guidelines.
With the elimination of these subsidies, the impact of crude price increases becomes, in the minister's words, "reasonably neutral" for Angola. This means the country is no longer as exposed to oil price fluctuations in international markets.
The decision is part of a broader economic adjustment context, with the Angolan executive following the recommendations of the international organization to stabilize the country's public finances.
