In its study entitled “High cost of living and decline in the purchasing power of the population: the explanations of the ODEP”, the Observatory of Public Expenditure highlights the significant increase in the prices of consumer products in Kinshasa from 2019 to June 2023. This price increase directly impacts the purchasing power of the Congolese, but according to ODEP, it is caused by internal factors rather than the Russo-Ukrainian crisis.
Above all, ODEP stresses the lack of importance accorded by the Congolese to the agricultural sector and the continuity of the neo-colonial system. Indeed, the lack of sufficient production to meet consumption needs and ensure food security is singled out. Unlike the United States, China or the European Union, agricultural powers before being industrial, the DRC has not developed its agricultural sector adequately.
The ODEP study identifies four factors responsible for the high cost of living and the decline in purchasing power in the DRC. First of all, the perpetuation of the neo-colonial system is denounced. Since the country’s independence, the DRC has been subjected to neo-colonial domination. In addition, public policies are developed based on liberal economic theories that are unsuited to the Congolese reality. The complicity of the ruling classes with imperialism is also mentioned, as is the scourge of corruption and embezzlement of public revenues which plague the governance of the country.
Faced with these observations, the ODEP proposes a radical economic approach as the main inspiration for drawing up relevant development policies. According to this approach, development consists in eradicating absolute poverty, satisfying basic needs, promoting integration, liberation, redistribution and decentralization of power.
It is therefore imperative that the DRC turns away from the dominant economic models imposed by the neo-colonial system and adopts a radical vision focused on the well-being of its population. Priority must be given to the development of the agricultural sector in order to guarantee the country’s food security and reduce dependence on costly imports. In addition, an effective fight against corruption and the establishment of good governance practices are essential to ensure an equitable distribution of resources and promote the country’s economic development.
It is now time for the DRC to take the necessary measures to reverse the trend of the high cost of living and the decline in purchasing power. ODEP plays a crucial role in identifying the root causes of these problems and proposing alternative solutions. It is now up to political decision-makers and the Congolese population to realize the urgency of the situation and to actively engage in building a better future