The following blog article discusses current events in the DRC and highlights the high cost of living and the decline in purchasing power of the population. This theme, covered in a study by the Observatory of Public Expenditure (ODEP), highlights the significant increase in the prices of consumer products in Kinshasa between 2019 and June 2023.
According to ODEP, the main cause of this situation lies in the lack of local production and excessive dependence on imports. The Congolese do not give enough importance to the agricultural sector, which has a negative impact on the country’s food security. The ODEP also underlines the persistence of the neo-colonial system, as well as the influence of unsuitable liberal economic theories in the development of public policies.
The study identifies four main factors that contribute to the high cost of living and the decline in purchasing power in the DRC: the perpetuation of the neo-colonial system, adherence to inappropriate liberal economic theories, the complicity of the ruling elites with imperialism, as well as corruption and embezzlement of public revenues that undermine governance.
ODEP also denounces the neo-colonial domination in the DRC since the country’s independence, highlighting the influence exerted by foreign powers on the Congolese economy. The organization advocates a radical economic approach for a relevant construction of development policies, centered on the eradication of poverty, the satisfaction of basic needs and the decentralization of power.
These findings call out the need for collective awareness and a reorientation of economic policies in the DRC. It is crucial to invest in the agricultural sector to promote food self-sufficiency and reduce dependence on imports. In addition, fighting corruption and ensuring good governance are paramount to ensure efficient use of public resources.
The DRC must also strengthen its position on the international scene by defending its economic interests and freeing itself from all forms of neo-colonialism. A radical and visionary approach is needed to promote sustainable and equitable development, thus improving the daily lives of Congolese and strengthening their purchasing power.
It is essential that political decision-makers, economic actors and civil society work together to put in place coherent and effective policies aimed at combating the high cost of living and improving the purchasing power of the population in the DRC