The recent controversy surrounding fuel prices has brought Mauritania’s economic policy out of the shadows, forcing a public confrontation of choices, figures, and differing viewpoints.

This analysis moves beyond that single issue to examine the fundamentals of the economy, the potential of newfound gas reserves, and a social safety net whose true scale has only recently come to light, based on verified facts and figures.

Policy coherence: a matter of timing and focus

Initial assessments of the government’s strategy—adjusting fuel prices while offering targeted financial transfers—noted a potential conflict with the Central Bank’s concerns about excess bank liquidity driving inflation. However, a closer look reveals a coordinated approach.

As noted by economist Sidi Mohamed Biya, the response to an energy shock was textbook: monetary policy addressed overall demand and inflation expectations, while targeted transfers protected the real income of vulnerable households without fueling broad inflationary pressure. A transfer to low-income families does not impact the economy in the same way as general budgetary expansion.

The sequence of these decisions is critical. The government’s social measures were announced on March 31, 2026, while the Central Bank’s decision to raise its key interest rate followed on May 18, 2026. The bank acted after the government’s fiscal choices were made, tightening monetary policy in response to, not in conflict with, the social spending. This undermines the critique of a sequentially incoherent