Angola’s president says austerity key to economic recovery

0
337
Joao Lourenco speaks at a media conference in Luanda, Angola, August 22, 2017. REUTERS/Stephen Eisenhammer/Files

LUANDA (Reuters) – Angola’s President Joao Lourenco said on Monday that there could be no economic recovery without austerity measures, ruling out salary increases for civil servants for now.

“When the economy is a little better, it’s only right that it should move the national salary, but now it would not be very advisable,” Lourenco told reporters at a media event to mark 100 days in office. Lourenco took over last year from Jose Eduardo dos Santos, who stood down after 38 years.

Reporting by Herculano Coroado; Writing by Joe Brock; Editing by Peter Graff

SHARE
Previous articleAngola to hold forex auction Tuesday as it ends dollar peg: sources
Next articleOil approaches 2015 highs on fewer U.S. rigs, OPEC
Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.