It's a type of simple compensator, gases are pushing down on the slanted part when exit the muzzle and keeping the barrel down, AK are known to jump up and aside when shooting full auto.
Of course yours's isn't select fire but this is the original Russian configuration, works fine and I wouldn't touch it. Older models only have thread protector on it.
If you want to fiddle with aftermarket parts, Google Primary Weapons Systems and go to Muzzle Devices.
The
FSC Compensator- 47 is the only one I tried on AK 47 (7.62) that in rapid fire holds the muzzle on target, and I did try bunch of them.
AK 74 variants are coming with one barrel type flash suppressor/ compensator, that works just fine on the original barrel length.
On shorter lenht barrels for AK I highly recommend the "pig" type Noveske device, it creates back pressure and the weapon works more reliably.
Originally this type (slightly different) was developed in Factory 10 in Kazanluk, Bulgaria for the "Suchka"(female dog. in Russian), the shorter models of the AK family.
Everything else should be just as you're describing it, it's a nice gun, trust me, I'm originally Bulgarian...
