Luanda – The Economic Commission of the Council of Ministers on Tuesday approved policy measures to be implemented to mitigate in the country the negative impacts resulting from the conflict between Russia and Ukraine.
According to the Memorandum approved during the ordinary meeting of the Economic Commission of the Council of Ministers, chaired by the President of the Republic, João Lourenço, although the conflict is impacting positively on the national economy, with the increase of the price of a barrel of oil on the international market, it has negative implications.
These implications are related to the risk of more expensive imports of essential goods of wide consumption, especially food and raw materials, and the risk of a reduction in the flow of foreign direct investment, especially in the diamond sector, an area in which Russia is one of the main investors.
To mitigate these impacts, the Economic Commission approved a set of policy measures to be implemented in the areas of international reserves management, the financial system, technological infrastructure and cyber security.
Policy measures were also outlined for the sectors of agriculture, infrastructure to support agricultural production, mineral resources and the area of diplomacy.
On the subject, the Minister of Economy and Planning, Mário Caetano, defended the need for a more “accelerated” approach on the production of agricultural goods and fisheries, as well as, the improvement of infrastructure.
“We are taking measures so that we can provide ourselves with inputs for the production sector. We are talking about fertilizers and in some cases cereals, for what is the deficit of national production in relation to consumption,” he pointed out.
He added that they are identifying markets where the country can have quick access to these products, in addition to measures to increase production, with the restructuring of the Credit Support Programme (PAC).
Source: Angola Press News Agency