financial crisis in ANGOLA

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financial crisis in ANGOLA

Post  shirete on Sat Mar 28, 2009 10:02 pm

Government explains impact of financial crisis on Angolan economy

Malanje - Members of the Government of the northern province of Malanje were Thursday briefed on the current world financial crisis and possible measures to control it.
On the occasion, the governor of Malanje province, Boaventura Cardoso, said there is need for measures to deal with the negative consequences of the world financial crisis on Angola and the programmes established by the provincial Government.
Boaventura Cardoso explained to the members of the provincial Government the fall in prices of oil and diamonds in the international market abd that the Angolan economy is recording a reduction in financial flows from abroad, both in the form of public aid to development and foreign investment.
According to the governor, the crisis will cause difficulties to the access to external financings, reduction of the liquidity, costs of imports and the aggravation of costs.
In the face of the current situation of the international market, Boaventura Cardoso stressed that the Government of Malanje is forced to adjust its plan of share, defining as priorities the execution of the national programme of the government, taking into account the reality of the province and adjusting the needs to the scarce resources available.
In this regard, the governor said that actions will adopted to guarantee the macro-economic stability, to improve food production, basic sanitation, supply of electric power and drinking waters, promote the integrated development of the agricultural communities, the social cohabitation and stimulate the emergence of economic activity generating job and revenues.
According to the governor, the province is potentially agricultural hence the need for priority for the revitalisation of farming production as a form to guarantee the self-sufficiency, food security promotion of diversification of the economy with the emergence of new products of export.
The event was attended by provincial directors, municipal administrators and members of the civil society.


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