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ECONOMY

NEWS
Inflation in Madagascar , Social implosion is looming over
Image article blog
Photo taken in a little shop in Antananarivo.

- Maurice Ranjalahy 2min reading


In a fast-growing Africa, where the economy is gradually gaining momentum with 3.8% growth, the economic health of the Big Island continues to deteriorate. According to “Statista” data, average inflation will be 10.5% in 2023, and the poverty rate will affect 24.8 million people, or 80.7% of the population. In other words, more than the total population of Burundi (12.89 million) or South Sudan (10.91 million), according to a World Bank report dated 02 April 2024. Indeed, if technocrat Serge Zafimahova spoke of hyperinflation in his last interview, the daily lives of middle-class Malagasy are heading towards a socio-social implosion due to a lack of financial stability.


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