Angop - Agência de Notícias Angola Press

FILDA / 2018: Sonangol stresses it is too early to talk about fuel prices hike

Tue, 10 Jul 2018 17:25 - Economy

Luanda - The State Owned oil company (Sonangol) CEO, Carlos Sartunino, said in Luanda that it was still premature to talk about rising fuel prices in the country, as recommended by the International Monetary Fund (IMF).

According to Carlos Saturnino, who was speaking to journalists, at the Luanda International Trade Fair (FILDA 2018), which takes place in the Special Economic Zone (EEZ), in Viana, it is up to the Angolan Government to study, evaluate and decide based on the concrete reality of the country.

"We are a business unit, of course, we are interested that this has an outcome. However, it is up to the government to take a position on the advice the IMF has given, "he said.

A group, which is part of Sonangol and the Ministry of Finance, is working on this dossier.

Finance Minister Archer Mangueira said recently in the city of Luena that the Ministry and Sonangol are considering the possibility of adjusting fuel prices later this year.

The minister said that it is intended to make this adjustment of fuel prices, within the framework of the strategy of fiscal consolidation and reduction of expenses.