Living cost: ¾ of Malagasy live in dire misery
With the enduring political crisis in Madagascar, the socio-economic situation of the local population is getting worse and worse on a daily-basis. Today, 77% of Malagasy are poor, and according to the national Census Bureau (INSTAT), the consumption rate of that population has significantly decreased by 35% from the poverty line. In other word, about ¾ of Malagasy live in dire misery.
The poverty line in Madagascar can be referred to an annual income of 468 800 MGA per capita, that is, a daily income of 1 280 MGA per capita, an amount that is hardly enough to buy a kilo of rice, living no room for other household fundamental needs, including schooling of the children and healthcare. Still according to INSTAT, the situation of poverty prevents most Malagasy household from providing their children with adequate education.
And given the current situation, the situation of poverty in Madagascar will worsen in the coming years as a result of the crisis. Indeed, international financial institution like the World Bank has recently released a report criticizing the weakness of the current regime in maintaining a stable economic increase. So, according to this institution, the repercussion of the current crisis on the national economy will be so dramatic in the coming few years that the succeeding regime may face a huge difficulty recovering it, and Madagascar will continue to be ranked among the poorest country in the world.
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