Africa Business News

Niger has been forced to cut its budget by 40% over the impact of sanctions and suspension of aid after the 26 July coup. There are fears that the sanctions may worsen the economic situation in Niger - one of the world’s poorest countries. The military junta announced a 2023 budget cut from $5.3bn to $3.2bn, although details of the cuts are lacking. At least 40% of the West African country's budget support this year was expected to come from external partners. The import-dependent country has recorded soaring food and commodity prices and a limited supply of medicines, owing to trade restrictions.