Niger cuts 2023 budget by 40% following international sanctions

Niger cuts 2023 budget by 40% following international sanctions
An aerial view of traffic on a street in the capital Niamey, Niger July 28, 2023 | Photo: Club Mozambique

has made significant cuts to its planned 2023 budget, reducing it by 40% in response to international sanctions imposed after a military coup took place in July. The junta announced this development via a televised statement on Saturday.

Originally estimated at 3.29 trillion CFA francs ($5.3 billion), the 2023 budget has now been downsized to 1.98 trillion CFA francs.

However, the statement did not provide specific details regarding where these budget reductions would be implemented.

The military coup that occurred on July 26 led to the detention of President Mohamed Bazoum and the establishment of a transitional government.

This coup garnered international condemnation, resulting in sanctions, asset freezes, and aid suspensions from entities such as , the , and the .

The sanctions, along with a trade blockade, have led to increased food prices and shortages of essential goods, including life-saving medicines.

Despite these hardships, it appears that the junta maintains considerable domestic support, particularly from those who were dissatisfied with the previous regime's perceived and the challenges faced.

Niger, situated in the Sahel region of , is the world's seventh-largest producer of uranium, a vital resource for nuclear energy and medical applications.

The nation faces significant poverty and insecurity due to the presence of violent Islamist groups and relies heavily on external aid.

Approximately 40% of its original 2023 budget was projected to come from international partners. ($1 = 618.2500 CFA francs).

  • By Edward McAllister; Editing by Dennis Gyamfi

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