Madagascar: troubled economy is critical for residents in an election year | Africanews
1 months ago, 23 Feb 01:18
Madagascar's troubled economy will be a major issue for residents as they head to the polls this year.
The government of president Hery Rajaonarimampianina, who is standing for re-election later this year says economic recovery is on course, with economic growth standing at 4.2 percent.
But many in the capital say economic gains have not trickled down to ordinary people, as inflation remains at 7.8 percent, driving the cost of living to an all time high.
For example, we used to eat meat at least once a week but now we can only afford to eat meat once every two weeks.
Four years ago, Malagasies elected a new president, a move that was meant to end years of political stalemate and restore Madagascar's economy.
The country has spent the last four years struggling to recover from the economic stagnation of the 2009-13 political transition.
Joseph said that although the company that retrenched him pays him 7 USD in compensation every month, the family is financially desperate.
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