(Ecofin Agency) - The reform program is aimed at improving the country’s resilience and ensuring sustainable transparency, performance, and accountability in public finance management.
Côte d’Ivoire plans to invest US$93.3 million in its 2022-2024 public finance management reform program. The information was disclosed in the release published after the June 1, 2022, ministerial council.
The program includes 236 activities aimed at further dematerializing public finance, reinforcing anti-corruption mechanisms, boosting tax and non-tax revenues collection, and establishing a governance framework for economic and financial administration information systems.
With the 2022-2024 public finance management reform program, the country wants to improve domestic revenue mobilization, optimize public expenditures, consolidate the performance of territorial administrations and enhance control over public finances. Ultimately, authorities expect to "ensure sustainable transparency, performance, and accountability in public finance management.”
In the release announcing the 2022-2024 program, the government informed that the previous reform program (2018-2021) is 80.6% completed; 261 activities have been completed out of the planned 324. Last February, at the end of the annual review of WAEMU member countries’ reforms, Abdoulaye Diop, chairperson of the WAEMU Commission, praised the Ivorian economy. According to the IMF, the country will record a 6.5% economic growth this year, after the recovery initiated in 2021.
Despite the positive outlooks, the emergence of new Covid-19 variants, and challenging international financial market conditions are a threat to Côte d’Ivoire’s sustained economic recovery. Inflation has already risen significantly because of international inflationary pressures and rising food prices.