The national minimum wage in Angola has been set at 21,545.10 kwanzas (US$67.5), an increase of 30% over the amount set in 2017, according to a presidential decree signed on Thursday in Luanda.
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.
Portuguese news agency Lusa reported that the 30% increase is insufficient to cover inflation registered since 2017 in Angola, with the average 12-month rolling rate standing at 41.12% in 2016, 23.67% in 2017 and 18.60% 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. (Macauhub)