Matala – The minister of State for Economic Coordination, José de Lima Massano, on Tuesday in Matala municipality, southern Huíla Province, admitted that Angola has less foreign exchange resources available, due to the fluctuations in the market of the country’s main commodity (crude oil) and commitments to external financing.
"We have fewer foreign exchange resources available, as it is known, our main source of foreign exchange revenue, with 95%, comes from oil and there is a drop, in addition to the commitments that the country has made, with recourse to external financing, we have times when we have to make debt service payments, which puts pressure on foreign exchange management", he pointed out.
Speaking to journalists at the end of a six-hour visit to the municipality which is 180 kilometres east of Lubango city, José Massano said that the solution is to create the capacity to produce more, because Angola is very dependent on food imports.
The minister admitted that there is already a demand for national production but there is the need to capitalise and empower producers of essential goods to reduce imports for less need to obtain foreign currency.
He announced that in the current month, the National Treasury will hold an operation on selling of foreign currency, but it is important to let the market create conditions with more production and services to reduce pressure regarding the need to send money abroad.
José de Lima Massano also revealed that the Angolan government is committed to boosting domestic capacity, allowing more to be produced for the real needs of Angolans and, if there are increases, to export, as a measure to make the economy stronger and able to generate income.
Minister emphasises commitment of Matala producers
The minister was pleased with the commitment of the families organised in agricultural associations and cooperatives, as well as some medium-sized companies that operate the irrigated perimeter and that demonstrate the will and capacity to reverse the status quo.
To him, the producers continue to believe in and take advantage of the government's public policies, which allow them to make better use of the infrastructures that support production, such as the Matala irrigation canal.
The Matala irrigated perimeter has a total area of 10,732 hectares, of which 6,831 are for agricultural activities and 3,091 for cattle breeding.
MS/MRA/jmc
