There will be no changes to pump prices in the coming months. The Minister of Economy and Finance stated that the state is not yet ready to implement a price increase.

This year, fuel prices will remain unchanged. The Finance Minister shared this information during a press briefing outside the Tsimbazaza legislature. According to the minister, despite demands from financial backers to implement a price increase, the country does not intend to apply it immediately.

Malagasy citizens are not in a position to bear an immediate price increase. Implementing this measure right away is impossible. « However, a strategy is being considered so that we can gradually move towards applying this measure over several years », she highlighted. Currently, this measure is unpopular.

This crucial issue was addressed during the recent IMF consultations under the Extended Credit Facility (ECF). The IMF has been concerned about this topic since July 2022. Fuel prices were frozen then by the state to avoid excessive inflationary increases in this product. Currently, the government continues its efforts with oil companies to bridge the gap per liter sold between actual prices and displayed fuel prices. The question remains as to how long the government will bear this discrepancy.