Angola hiked the diesel price by one-third from Friday as part of the government's drive to curb costly subsidies and shore up public finances.

The African oil-producing country has been gradually removing fuel subsidies since 2023.

Its economy is under pressure because of a slide in the global crude oil price earlier this year, and it faces external debt repayments of about $9 billion in 2025, including a Eurobond maturing in November.

The diesel price has risen to 400 kwanzas ($0.4386) per litre from 300 kwanzas before, the second price hike this year.

Growth forecast cut

The petroleum products regulator left prices for petrol and liquefied petroleum gas unchanged.

Finance Minister Vera Daves de Sousa told Reuters in October that fuel subsidies amounted to around 4% of gross domestic product last year and said the government planned to continue removing them in phases.

The IMF said in May that it had cut Angola's preliminary growth outlook for 2025 to 2.4% from an initial 3%, citing lower oil prices and tightening external financing conditions.

A petrol price hike in 2023 triggered deadly protests, but there was no immediate sign of social unrest in Angola on Friday.