The Governmentโs Midtermย Plan, containing the Policy and Actionsย measures to be executed has been approved until theย approval of the National Development Plan 2018-ย 2022.
The Plan is due to enter into force until the firstย quarter of 2018 and it identifies 88 actions,
๏ถ Public Expenses Control;
๏ถ Revision of the Public and Private Partnershipsย Law;
๏ถ Public-Private Partnerships on infrastructureย investments and in the supplying of essentialย public goods and services;
๏ถ Public and Administrative Sector Adjustments;
๏ถ Increase tax rates on alcoholic beverages,ย night houses, gambling and lottery, luxuryย products with the possibility of allocating part of
the income to finance public health;
๏ถ Approval of regulation approving the IVAย (Value-added Tax);
๏ถ Strengthening the Financial Sectorย implementing new surveillance mechanisms;
๏ถ Assessment of vulnerability of every and anyย commercial Bank;
๏ถ Exports Promotion and Substitution of theย imports;
๏ถ Diversification of the Economy: Agriculture,ย Fishery Sector, Tourism, Construction,ย Manufacturing Industry and Trading Services;
๏ถ Tax credit for activities such as agriculture ofย medium and large scale and fishery;
๏ถ Reduction on the Port fees;
๏ถ Approval of the New Standardized Customsย Tariff;
๏ถ Investments in petrochemical refineries;
๏ถ Simplification of the process of grantingย propriety rights and real state bonds;
This actions planย will immediately introduce economic policy measures, that will positively change the economic agents expectations, createย credibility and confidence in the new Governmentย and conduct the macroeconomic stability andย establishment of a favorable environment for economic growth, employment creation andย mitigation of the countryโs more permanent socialย problems.
The Plan was defined through a โMacro-economic and social situation diagnosticโ, that evaluated theย main impact factors on the economic growth, suchย as: inflation; tax system and the monetary andย exchange rate policy; the balance of payments and
the social sector. The diagnostic concluded that,ย due to (i) ineffective monetary policy and taxย expansionary measures, (ii) segmented exchangeย market and (iii) a banking system centered andย inefficient, the Angolan economy achieved a state ofย โstagflationโ.
Macroeconomic stabilization, exchange marketย reunification, inflation, tax reduction, privateย investment maximization and incentive and
improvement of the social indicators are theย intended the Economic Policy consolidation factors forย the final quarter of 2017 and first of 2018 as well as theย โformulaโ to relaunch the Angola’s economy,ย through identified actions.
