Major increase in import and consumption taxes in Angola


Angola steeply increases consumption and import taxes. With a widening fiscal deficit generated by crashing oil prices, the country’s main export by far, the Angolan Government introduced large hikes in the values of the Consumption Tax Regulation and the General Customs Tariff. This decision will have a negative effect on price levels, already under pressure due to … Continue reading Major increase in import and consumption taxes in Angola

Angolan currency looses value (- 37%) in the last year


The Angolan currency (Kwanza- Kz) lost 37% of its value (in USD) as a result of last year’s crude oil price crash. A carbon-dependent economy (with oil and diamonds being, by far, the country’s largest exports), Angola was hard hit by the evolution of oil prices in the international markets. One USD was worth Kz … Continue reading Angolan currency looses value (- 37%) in the last year