Last Saturday on "Jeune Afrique", the Beninese Minister of Economy and Finance gives his analysis on the Ukrainian crisis, which, after Covid, destabilizes the continent. He proposes solutions to face the food crisis in Africa.

For the Minister, there are four types of measures. The first is to waive tax and customs levies to allow the price to be accessible to people. "If we leave the same levels of VAT and customs duties, the products will be even more expensive for the population. So, we need a total or partial renunciation of these levies on most consumer products, while ensuring that local industries are not penalized," he said.

The second category of measures are direct subsidies, for example on diesel. "It is obvious that we will continue to absorb this shock. All construction equipment, tractors, factories and public transport use diesel. If we didn't act, the consequences on productivity and wealth creation would be disastrous. We are therefore putting money on the table to slow down the effect of rising prices," says Romuald Wadagni.

Thirdly, he proposes to regulate and monitor the prices of heavily subsidized products. And finally, the minister advocates the establishment of social nets. According to him, since part of the African population is extremely poor, it is necessary for leaders to ensure that these people have access to the minimum during the crisis period.