The purchasing power of the Congolese in freefall: Martin Fayulu denounces the government’s inability to meet expectations
In a speech on the occasion of the 63rd anniversary of the independence of the Democratic Republic of Congo, Martin Fayulu, president of the political party Ecide, strongly criticized the government of Félix Tshisekedi for its inability to improve the economic and social situation of the country. Fayulu pointed to the deterioration in the purchasing power of the Congolese, with a 47% drop in the value of the Congolese franc since Tshisekedi came to power. The prices of basic foodstuffs have also increased by more than 50%, making the daily life of the population increasingly difficult.
The president of Ecide also denounced the corruption that is rampant in the government of Tshisekedi, with massive embezzlement of public funds. He cited the emblematic cases of the $15 million from oil tankers and the $57 million allocated to manufactured homes, as well as the over $300 million RAM tax scam. Fayulu also criticized the lack of concrete achievements of the programs launched by the government, such as the 100 days program and the Tshilejelu program, which cost hundreds of millions of dollars without bringing tangible results.
In addition, Fayulu pointed to Tshisekedi’s frequent trips abroad, funded by Congolese taxpayers, as well as the selling off of national heritage by the government through tenders for oil and gas blocks, without consultation. local communities or a serious environmental impact study.
These criticisms come on top of the depreciation of the Congolese currency against the US dollar, as well as the explosion of public spending and the budget deficit. Finance Minister Nicolas Kazadi recently announced the suspension of domestic public debt payments to alleviate this situation.
In response to these criticisms, Tshisekedi mitigated the responsibility of his government by invoking the global economic context and the insecurity in the east of the country. He said these factors have prevented the country from fully benefiting from the recorded economic performance and domestic revenue.
Faced with this worrying situation, it is essential that the Tshisekedi government take concrete measures to improve the purchasing power of the Congolese, fight against corruption and implement effective economic policies. The expectations of the population are growing, and it is crucial that the government meet these expectations to ensure the development and well-being of all Congolese.