Citizens have expressed their desire to see the government implement more assertive measures this year to curb the skyrocketing cost of living, given the surge in prices.
Angolans hope that this year the government will reduce the Income Tax on Work (IRT), considering the depreciation of the national currency and the soaring cost of living.
“This is what must be done so that the situation changes in the country, so that this year is not the same as last year,” said citizen Leonardo Quisambo, as reported by Forbes Africa Lusophone.
According to Leonardo Quisambo, the government should implement more decisive measures to enable people to carry out their activities and ease the social and economic burden on families.
For Luciana Doelma, reforms are seen as necessary measures to attract investment.
“So, if they prioritize attracting investors and avoid policies that discourage or hinder citizens from investing, we will have more companies and investors contributing to the country’s economic growth,” she stated.
The citizen called on the government to prioritize effective fiscal reforms to achieve the much-desired diversification of the economy across various sectors that need investment.
She also highlighted the need for increased investment in education to ensure the training of qualified professionals capable of supporting the productive sector.
“This year could bring economic growth, but also significant challenges, even though the government presents optimistic forecasts with varying rates and percentages,” Luciana Doelma noted.
Meanwhile, António Adriano Ginga urged for a reduction in the cost of the basic food basket to compensate for families’ purchasing power.
Angola’s Economic Situation and Family Conditions Worsened in the Past 12 Months
The economic situation in Angola and the condition of families have worsened over the past twelve months, particularly with the rise in unemployment and the increase in the prices of goods and services, according to the confidence indicator from the Angolan National Statistics Institute (INE).
According to the Consumer Confidence Survey for the third quarter of 2024, conducted by INE and released on Monday, most respondents, from a sample of 3,000 families across Angola’s 18 provinces, anticipate further increases in the prices of goods and services over the next 12 months.
For six consecutive semesters, the Consumer Confidence Indicator in Angola has shown a declining trend, underscoring the low level of optimism among Angolan families, the study notes.
The survey indicates that factors such as the forecasted rise in unemployment, low expectations regarding the country’s economic situation and family finances over the next 12 months, and the current economic situation of households have negatively impacted families’ optimism.
When households were asked whether they think it is possible to save money given the current economic situation in the country, 22% responded affirmatively, representing a drop of 0.9 percentage points compared to the same period last year.
01/07/2025
