The government of President Bassirou Diomaye Faye has crashed the price of rice, oil, bread, and other basic items to address cost-of-living concerns amid high unemployment and inflation.
This was a key part of Faye’s campaign – to address high living costs in the West African nation that heavily relies on imports.
Under the measures, the price of a kilo (2.2 pounds) of the most widely consumed type of rice will be reduced by 40 CFA ($0.065, 0.061 euros), while a baguette will cost 15 CFA (0.023 euros) less, the government announced at a media conference.
According to government secretary general Ahmadou Al Aminou Lo, the reductions, which also cover cement and fertiliser, will take effect in the next few days.
Budget Minister Cheikh Diba said the government would forego taxes and customs duties imposed on importers to subsidise the price cuts.
The measures will cost 53.3 billion CFA (more than 81 million euros, $87 million), Diba said.
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