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3 Dec
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Rising energy prices should generate popular discontent

New electricity tariffs come into force in Angola this Monday (15.07). The consultant Economist Intelligence Unit considers that this measure will generate discontent, but without social unrest. Inflation should rise.

Angola Skyline von Luanda (picture-alliance/AP Photo/O. Zilwa)Vista noturna da Baía de Luanda

Night view of Luanda Bay

“Rising public discontent in response to rising prices is likely, but we do not anticipate major social unrest; inflation has slowed, but we expect rising electricity prices, the new Value Added Tax (VAT) and new taxes. will contribute to higher rates over the next 12 months, “write the analyzes from the economic analysis unit of the British magazine The Economist.

Luís Mourão da Silva, Präsident Energieaufsichtsbehörde Angola (DW/J. Carlos)

In an analysis of the rise in electricity prices sent to customers and to which Lusa had access, Economist analysts say that “the average increase will be 97% and the impact of the rise will certainly be felt” by consumers.

 

The withdrawal of subsidies was one of the measures advocated by the International Monetary Fund (IMF), which has agreed with Angola a $ 3.7 billion financial assistance program since the end of last year, as well as other measures to correct the country’s macroeconomic imbalances.

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USA Washington Internationaler Währungsfond Logo Finanzkrise Griechenland (AP)Sede do FMI, em Washington

Aumento na conta de energia

This change comes in a context in which the country is preparing to introduce 14% VAT, which has been postponed several times, and should continue to be postponed in the short term,” says the EIU, noting that “these factors should contribute to an increase in inflation, at least in the short term “and warning that” the increase should be felt by companies, which will undermine non-oil sector stimulation efforts. ”

Angola Platz Largo da Mutamba in Luanda (DW/N. Sul d'Angola)Prédio do Ministério das Finanças, em Luanda

IMF headquarters in Washington

Energy bill increase

The Angolan Ministry of Finance announced in a statement on July 2 that the implementation of the New Electricity Tariff Scheme should be in force since June 24, but “for technical and operational reasons of the institutions responsible for ensuring this procedure. “, its realization only happens from Monday (15.07).

According to the Ministry of Finance, this update of electricity tariffs stems from a structural measure of macroeconomic management, which ensures that subsidies effectively benefit the most vulnerable segments of the population, contrary to what has been happening so far.

AMinistry of Finance building in Luanda

“In this sense, the new tariffs introduce mechanisms to protect lower-income consumers, in addition to other social protection measures, which are being adopted by the executive,” reads the note.

In January 2018, the Angolan Government intended to cut by 25%, the equivalent of 275 million euros, in subsidies that it grants to public companies to maintain prices for consumers in services such as water, energy and transport, which should increase that year.

In late June, the International Monetary Fund (IMF) resident representative in Angola, Max Alier, defended the elimination of water and energy subsidies, arguing that they only benefit high-income people: subsidies to utilities and public services. Fuel prices “are inefficient, lead to excessive consumption and disproportionately benefit the rich who consume them the most,” he said, quoted by the Jornal de Angola.

“For these reasons we advise you to eliminate it. At the same time, we know that the share of income spent on utilities, fuels and transport by poor households is large. Thus, in relative terms, the poor are most affected by rising fuel prices. “, he said.

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Angolan minister of energy and water in Germany looking for investors

The new rates

The new energy tariff for social class consumers – customers with reduced consumption capacity – will continue. For customers with consumption below 200 kilowatts the value will more than double.

The adjustment was also made in the “general household category”, currently called “single-phase domestic category”, which includes the majority of the country’s electricity consumers, whose increase will be 66%.

“Special domestic category” customers, now referred to as the “three-phase domestic category” – the largest capacity and consumption group – whose price includes both production and transportation, will also pay more than double.

For the industry category, the price rises to around 82%, while trade and service categories are now part of the three-phase domestic category.

According to the chairman of the board of the Regulatory Institute of Electricity and Water Services (IRSEA), Luís Mourão, quoted by Angolan news agency, Angop, the final customer paid an average of 6.05 kwanzas (0.01557 euros) per kilowatt. and now go

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