Faced with the volatility of food prices, the Democratic Republic of Congo (DRC) is setting up a surveillance and economic control system to fight against the retention of goods and the practice of illicit prices. This decision comes following a series of missions carried out in the country to discourage these practices which have a negative impact on domestic prices.
According to Vital Kamerhe, Deputy Prime Minister and Minister of National Economy, the strengthening of the market surveillance system will help deter illicit pricing practices and stock retention across the country. At the same time, anticipation and adaptation measures have been taken to diversify sources of wheat flour supply and promote the development of a local wheat agricultural sector.
With this in mind, the government plans to set up the Economic Regulation Fund (FOREC) as a tool for anticipation and economic intervention. This fund, created in 2008, will be used to stabilize prices and prevent shortages and disruptions in the supply of consumer products.
These measures are part of the three-year program of 36 billion US dollars put in place by the Congolese government to face the country’s economic challenges. The objective is to stimulate economic development and make the DRC a major player on the international scene.
Thanks to these actions, the DRC hopes to guarantee the availability of food products on the market, control prices and improve the economic stability of the country. By strengthening the monitoring system and diversifying sources of supply, the government is giving itself the means to deal with the volatility and geopolitical tensions that can impact the food market.
The establishment of FOREC and the economic control system demonstrates the Congolese government’s desire to support sustainable economic growth and guarantee food security for all citizens.
In conclusion, the DRC is taking concrete measures to combat the detention of goods and the illicit prices of foodstuffs. The strengthening of the market surveillance mechanism and the diversification of supply sources will help stabilize prices and ensure the availability of products on the market. Thanks to these actions, the DRC is asserting itself as a major economic player and working for the well-being of its population