Angola refunds debts of 176m euros to Portuguese firms

The Angolan Minister of State for Economic and Social Development, Manuel Nunes Júnior has said that the Angolan state has already paid about 176 million euros of debt to Portuguese firms operating in Angola in the centre-west Benguela Province.

According to Manuel Nunes Júnior, who was speaking at the opening of the third Angola/Portugal Business Forum, the amount so far paid is equivalent to 60 per cent of the certified debt, whose total is 280 million euros. He said considering that the process has been taking place in a relatively short period of time, one can definitely conclude that it is on the right track.

On the other hand, he went on to say, measures are being taken with a view to avoiding the repetition of such a cycle of delay in the payment of the public debt. The minister of State also explained that these steps and measures being taken by the Angolan government with a view to installing in the country a real law-abiding state, in which no-one is above the law, have enabled an increase of the trust of economic agents in the national market.  

“Trust in the Angolan law and institutions has been growing”, he stressed.

Manuel Nunes Júnior reiterated that the country is now experiencing a very different moment in the justice domain, which is good for all those national and foreign entrepreneurs that want to invest in Angola.

He also reiterated that in the present context - in which the government counts more on the participation of the private sector to boost internal production and diversify exports – the role of the state will be that of a regulator and coordinator of the entire production process and always improving conditions for the attraction and absorption of good investments in the country.

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