Covid-19 in Madagascar: the pandemic accentuates poverty
The basic health center in the rural commune of Iarintsena, in southern Madagascar.
Laetitia Bezain / RFI
Text by: RFI Follow
2 min
In its economic report published Wednesday, December 16, the World Bank estimates that nearly 1.9 million additional Malagasy will fall below the poverty line, bringing the poverty rate to nearly 78%, the highest rate in the country. country since 2012.
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With our correspondent in Madagascar
,
Laure Verneau
The economy contracted by 4.2% due to several factors: international trade is disrupted, the closing of borders and the abrupt end of domestic activity.
The intensity of the recession is largely due to a sharp decline in export earnings and private investment.
The World Bank compares the current recession to that experienced by Madagascar in 2009 during the political crisis.
For Marie-Chantal Uwanyiligira, the president of the financial institution, "
in this context, growth should only reach 2% in 2021, before rebounding more significantly to 5.8% in 2022.
"
A recovery is however expected in 2021, but the outlook remains uncertain.
For the President of the World Bank, it is on the sectors most affected by the crisis that we must focus, such as textiles and tourism.
Sectors that distinguish Madagascar from the continent in terms of comparative advantages.
Growth prospects for the whole of Africa are around -4% for 2020 and + 2.9% in 2021, which remains close to current forecasts for the Big Island.
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