Government approves strategy to mitigate price increase

Luanda The Economic Commission of the Council of Ministers, meeting this Monday, in Luanda, approved a strategy to mitigate acts of price speculation in the national economy, in particular of basic food products.

The strategy, according to the final communique of the meeting, chaired by the President of the Republic, JoAPound o Lourenco, will contribute to guaranteeing price stability in the market of products included in the monitored price regime, and will, in effect, contribute to the stabilization of power of purchase of Angolan families.

Also in the area of trade, the session adopted a memorandum on the strategy for operationalizing the Integrated Framework within the World Trade Organization.

The document presents the actions developed and to be developed with a view to the implementation of the Enhanced Integrated Framework in Angola, as well as the respective schedule and budget proposals.

The Enhanced Integrated Framework is an international initiative involving, as multilateral partners, the International Monetary Fund, the World Bank, the International Trade Center and the UN Conference on Trade and Development.

It is also part of the United Nations Development Program, the World Trade Organization and bilateral partners, aimed at meeting the needs of the Least Developed Countries (LDCs) in terms of trade development and consequent registration in world trade.

Economy and Planning

Regarding the economy and planning sector, a set of tasks to be developed by March 2020 was approved, with the aim of improving Angola’s ranking in the Easy of Doing Business report, to be published by the World Bank in October next year (2020).

The document now approved, which assesses the ease of doing business in different countries, ranks Angola in a still undesirable position and urgent action is needed to improve the business environment.

Source: Angola Press News Agency