The government of Niger had to reduce its budget by 40% because of sanctions and the halt of financial help following the coup on July 26th. People are worried that the punishments might make Niger’s economy even worse. Niger is one of the poorest countries in the world.
The military group said on Saturday that they will reduce the budget for 2023 from $5. 3 billion to $3. 2 billion, but they did not provide any information about what they plan to cut.
This year, about 40% of the money that the West African country receives to fund its budget was supposed to come from outside organizations.
The coup that removed President Mohamed Bazoum resulted in sanctions from nearby countries and other nations, such as shutting down borders, freezing assets, and stopping the delivery of aid.
The country relies heavily on imports and is experiencing very high prices for food and goods, along with a shortage of medicines, because of limitations on trade.
Even though many countries in the region disapproved of the coup, there have been multiple rallies in the country to show support for the new government. The neighboring governments of Mali and Burkina Faso also helped the coup.
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Niger reduces its budget by 40% as result of sanctions
