Amadou Coulibaly, the Minister of the Post Office and the Digital Economy announced on Wednesday, February 1, 2023 that the State of Côte d'Ivoire has provided more than 700 billion FCFA in subsidies in the oil sector, since the first quarter of 2022, with a view to protecting people's purchasing power.

The Minister of the Post Office and the Digital Economy, who is also a government spokesperson, stressed that “the Ukrainian crisis and Covid-19 have caused the price per barrel to soar. The State has made efforts to ensure that this increase is not felt on the final consumer. Overall, since the first quarter of 2022, the subsidy that the State has provided to the oil sector amounts to more than 700 billion CFA francs.” According to him, this subsidy and the efforts made by the State have made it possible to reduce the cost of living and to control the inflation rate, which oscillates between 5.4% and 5.7% compared with 20% in some countries in the subregion.