Angola Should Cut Fuel Subsidies, Smooth Spending, IMF Says
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Angola, Africa’s second-biggest oil producer, should cut fuel subsidies and smooth the cycle of spending tied to commodity prices, the International Monetary Fund said.
The country spent about 6.3 percent of economic output on fuel subsidies in 2011, compared with outlays of 1.7 percent for education and health that were the lowest in the sub-Sahara region, according to the IMF.