Angola will gradually eliminate import duties for products originating from member states of the African Continental Free Trade Area (AfCFTA), according to a communique released on Tuesday.
The measure is based on the Memorandum on the Proposed Tariff Offer of Angola under the framework of the AfCFTA, according to the final communique of a meeting of the Economic Commission of the Council of Ministers.
In November 2020, Angola became the 30th country to ratify the agreement to establish the AfCFTA.
The Economic Commission approved the country’s Annual Indebtedness Plan for 2022, which is valued at 6.88 billion kwanzas (about 13 million U.S. dollars), to finance the General State Budget.
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According to Angolan Finance Minister Vera Daves, 56 percent of the amount will be mobilized in the foreign market, while the remaining 44 percent will be channeled domestically.
The country’s current public debt is estimated at 62.5 billion U.S. dollars, the minister added.