The branch executive will provide a credit line of $300 million between now and 2025, the Minister of State for Agriculture and Livestock, Joao Cunha, confirmed in statements to the press.
The official explained at the first Luanda Agricultural Fair, which will end tomorrow, that the idea is to make a qualitative leap in livestock activity with the aim of reducing meat imports in the near future.
For the current agricultural campaign, the state has decided to subsidize the price of a 50-kilogram bag of fertilizer by about 35 percent to mainly help farmers’ families, Angop Press Agency reported.
Kwanza Norte’s regional director of agriculture, Manuel Fernandez Domingos, said the territory has 150 tons of compost for sale to peasants and medium and large farmers under a contract or bonus system, Angop reports.
Over the past two years, agricultural activity in the country has grown at an average rate of 5.6 percent, said the Minister of Agriculture and Forestry, Antonio Francisco de Assis, on an informative morning program on National Radio of Angola.
In the opinion of the owner, there are positive signs of development, both in business and in family farming, therefore, they expect better results in the agricultural campaign 2022-2023.
On October 15, in his State of the Nation address, President Joao Lourenço confirmed that in 2021, GDP rose by 0.7 percent, due to the contribution of the non-oil sector, whose expansion reached 6.4 percentage points.
According to the president, the primary driver for achieving a positive balance was the performance of agriculture, livestock, fishing, manufacturing, diamond mining, trade, construction, and transportation.
Data for the first half of 2022 indicates a GDP growth of 3.2 percent, which indicates that the focus on national production is beginning to pay off, the head of state said.
We will continue to intensify efforts in this direction, because in the end we are on the right track. He emphasized that in 2022, the economy will grow by 2.7 percent, again with a performance led by the non-oil sector.
mv / mjm
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