The article selected for this essay addresses a problematic topic in the Democratic Republic of Congo (DRC): the high cost of living and the decline in the purchasing power of the population. According to a study carried out by the Observatory of Public Expenditure (ODEP), the prices of consumer products increased considerably from 2019 to June 30, 2023, which led to a deterioration in the purchasing power of Congolese.
The ODEP highlights several main causes of this worrying situation. First, she points to the perpetuation of the neo-colonial system in the DRC, which limits the country’s ability to develop independently. Second, the ODEP criticizes the adoption of unsuitable liberal economic theories in the development of public policies, as well as the complicity of the ruling classes with imperialism.
Another key factor underlined by ODEP is the scourge of corruption and embezzlement of public revenues, which plague governance in the DRC. According to this organization, these various causes have contributed to the high cost of living and the decline in purchasing power of the Congolese population.
To remedy this situation, the ODEP proposes an approach based on the radical current of economic thought. According to this approach, development should focus on the eradication of absolute poverty, the satisfaction of basic needs, integration, liberation, redistribution and decentralization of power.
It is important to emphasize that the situation described in this article is extremely worrying for the Congolese population. The high cost of living and the decline in purchasing power have a direct impact on the daily lives of residents, who are struggling to meet their basic needs.
It is necessary that concrete and effective measures be taken to fight corruption, promote self-reliant economic development and improve governance in the DRC. Only collective and concerted action can reverse this trend and improve the living conditions of the Congolese.
In conclusion, it is essential to highlight the problems that affect the Congolese population and to propose viable solutions to address them. The article discussed highlights the causes of the high cost of living and the decline in purchasing power in the DRC, while underlining the importance of a radical approach to fostering equitable and sustainable economic development