Angola witnesses rise in national minimum wage by 30 pct

Angola has witnessed augmentation in the national minimum wage. According to a presidential decree signed in the capital city, Luanda last week, it is revealed that the country has witnessed an increase of 30 percent over the amount set in 2017.

According to Macauhub, Angola’s national minimum wage has been set at 21,545.10 kwanzas (which stands equivalent to USD 67.5). The decree revokes the amount established for the national minimum wage in June 2017, when it was set at 16,503.30 kwanzas by decree of former President José Eduardo dos Santos.

However, Portuguese news agency, Lusa reported that 30 percent rise is not adequate to cover inflation registered since 2017 in Angola, with the average 12-month rolling rate standing at 41.12 percent in 2016, 23.67 percent in 2017 and 18.60 percent in 2018. The increase approved also does not cover the devaluation of the Angolan currency against the euro and the dollar, which, since the introduction of a new exchange rate model in January 2018, has already lost more than half its value.

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