(Ecofin Agency) - The Ivorian government adopted, on October 2, 2019, a draft budget of XOF8,061 billion (about $13.8 billion) for the year 2020, up 9.9% compared to XOF7,334.3 billion (about $11.6 billion) in 2019.
According to authorities, while the government has so far adopted a means-based approach to budgeting, the FY2020 will be a program-based budget, in line with the reform objectives initiated by WAEMU in public financial management.
Based on this new approach, the draft 2020 budget is structured into 35 allocations and 149 budget programs, housed within institutions and ministries. Revenues expected in 2020 to finance this budget amount to XOF4,379.5 billion (about $7.3 billion) while budget expenditures are estimated at XOF5,807.2 billion (about $9.6 billion).
As for the resources and cash expenses that are integrated into a program-based budget approach, they amount to XOF2,921.8 billion (about $4.8 billion) and XOF1,494.1 billion (about $2.4 billion) respectively for the draft budget for 2020.
According to the International Monetary Fund (IMF), Côte d'Ivoire’s GDP is expected to grow by 7.5% and 7.2% respectively in 2019 and 2020.