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Significance
He claimed that these included demands for a 20% increase in fuel prices and a 30% increase in electricity prices. Trovoada added that requested austerity measures would bring unacceptable additional hardships to the population and would not address the problem of a major financing gap for fuel imports.
Impacts
Further austerity measures might provoke social unrest.
Fuel shortages are possible in the coming months.
Financing shortfalls may put downward pressure on Sao Tome and Principe’s projected 2.9% GDP growth for 2024.
Keywords:
Fossil fuels,
Renewable energy,
economy,
international relations,
debt,
energy,
foreign investment,
government,
oil,
Sao Tome,
AF
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2024
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