By Emmanuel Tumanjong
Special to Dow Jones Newswires
The Gabonese government has created a new body to help the Central African nation fight inflation and high commodity prices.
Gabon Prime Minister Alain Claude Bilie-By-Nze said the body--which was formed following the two-day-long national conference on the high cost of living-- comprises the government and actors in the chain representing consumers, producers and distributors.
"Among the proposals that have been made, there are some that can be implemented immediately and others that must be spread out," Mr. Bilie-By-Nze told state-run Radio Television National (RTG) on Thursday.
In Gabon, basic commodities such as housing, transportation, rice, palm oil, chicken, beef, port and table oil, among others, sell for prices at least 30% higher than neighboring countries in the Central African subregion.
"We will all work together, and every unit has to put its utmost effort to help us get a long-term solution," Mr. Bilie-By-Nze said.
However, the oil-dependent nation of around two million people imports at least 90% of goods consumed, spending 2.025 billion CFA francs (about $3.4 million) in 2021, according to government data.
"Traders price goods high because they buy them expensive. If they buy cheaper, they will sell cheaper," Djibril Maganga Nziengui, the president of the national trade union, told RTG.
Earlier this year, Gabon President Ali Bongo Ondimba appointed Rene Ndemezo'o Obiang as the country's first minister of the fight against the high cost of living.
The government had also held consultations with stakeholders in late March before this week's meeting.
"There are a whole range of issues that need to be addressed to make life better in Gabon," Mr. Obiang said.
Write to Barcelona Editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
04-14-23 0951ET
