“Everything is increasing, except for our wages,” Zerihoun, an Ethiopian porter, told AFP. up The financial crisis facing century of An African country suffering from massively high rates of inflation and economic slowdown.
after holding of Moving growth During the 2010s, Africa second The most populous country has experienced multiple shocks, including the COVID-19 pandemic, a record dehydration, two-year war in far north region of Tigray f global Effect of The invasion of Ukraine.
Average annual inflation is expected hit 30% in 2022 (compared to 26% last year), driven by an increase in food costs.
“Grocery, food, rent, all the prices are gone up,” said Zerihoun, 30.year-Old father of Two working at the sprawling Merkato market in The capital, Addis Ababa.
“Because of The cost of Live, life is so hard… life has become expensive, said his colleague Sentaye Tadel. who He has two sons, ages 12 and 6, and “no savings.”
is not it for Handouts from Addis Ababa Municipality government Including school uniform, books and school meals, for him family Will be struggle In order to survive, the 29-year-old porter told AFP.
Porters at Merkato, which is considered the largest opening in Africa-air market and earn 5 birr (9 US cents) for Loading or unloading the crate.
On average, a good brings today in Less than $5 in wages.
“The economy Slow, so there are fewer work “My salary is less,” Zerihoun said.
‘very Difficult’
packed with thousands of Kiosks stock everything from clothing to industrial machinery busy arcade of Mercato Team with Buyers, sellers and daily labourers.
But the regulars say business sharpening hit this is year As inflation discourages customers’ appetite for spending.
“Work is very cool, not only here but in All sectors,” said Hamat Radhi. manager of a shop Selling TVs and washing machines.
Few doors downShopkeeper Sisay Desalegn complained of a nationwide shortage of foreign currency, which makes it difficult for him to import sound equipment Solar panels sold in for him store.
“Because of Shortage, we do not get enough foreign exchange from bank to import goods.
“We appreciate that we have business 40% lost in “For two years,” Desalegn said, adding that the economic downturn forced him to sell everything at purchase priceprofit status out of Reach.
K resulthe has reduced his daily expenses.
“It’s very difficult to do with What do you have,” he said, stressing that war in Tigray meant for him former Customers – merchants and farmers from north – They no longer come to market.
deceleration in trade with The north she has also I saw fewer trucks turning around up At Merkato, that means less work for porters like Zerihoun and Sentayeh.
multiple causes
conflict pressure on government Finance and hit key sectors such as agriculture and industry.
He. She also It scares away foreign investors and partners, which contributes to shortages of foreign currency in importing country.
Signing a peace agreement last A month between the feds government Hopes were raised by the Tigrayan rebels of economic recovery.
“I hope the peace agreement will make the situation better in The future, Zerihoun said.
But Ethiopia economy hit Roadblocks before the start of the war in November 2020 with The COVID-19 pandemic has caused a sharp slowdown.
Growth, which averaged 9.7% between 2010 and 2018, has fallen to 6.1%. in 2020 is expected drop below 4% this year, according to the International Monetary Fund.
Drought grips the century of It was the weight of Africa on Agriculture – a key employer in The nation is largely rural – and contributed to the explosion in food prices, with dispute in Ukraine also Affect the cost of living.
The causes behind The crisis may be complex and complex, but the impact is easy to see, according to Zerihoun.
Ultimately, all of this affects lower incomes people like us,” He said.
