By Brian Okoth
Petrol prices in Angola have shot up almost twice as the government phases out fuel subsidy programme.
From Friday, a litre of petrol will retail at 300 kwanzas ($0.51), from the current 160 kwanzas ($0.27).
The Minister of Economic Coordination, Manuel Nunes Junior, said at a press conference in the capital Luanda on Thursday that the prices of diesel and kerosene will, however, remain unchanged.
Nunes said the amount of money the government spent on petroleum subsidy in 2022 alone was 92 per cent of the total spending on education and health ministries combined.
“The removal of the fuel subsidy programme will allow for more investments to be done in key sectors such as education, health, social security, job creation and social housing,” said Nunes, adding that removal of the subsidies will be gradual.
The minister said the longstanding subsidy programme was becoming more unsustainable by the day.
