Military coup in Niger negatively affected the country’s economy

Military coup in Niger negatively affected the country's economy

The crisis in Niger, which started with the military seizure of power on 26 July, is getting deeper. The decision of the international community as well as regional organisations to impose sanctions on Niger has led to an exponential increase in prices in the country. Expressing their feelings in the face of rising prices in the country, the Niger people stated that the products sold have increased very quickly in a short time, while stating that the embargo imposed on Niger will cause a stock shortage in the country.
The Economic Community of West African States (ECOWAS) announced that member countries have stopped all commercial activities with Niger, while the Central Bank of West African States (BCEAO) froze all assets of Niger due to the coup.
In Niger, where 41 per cent of the total population lives in extreme poverty, foreign aid accounts for 40 per cent of the state budget.