Following a review mission to Benin from October 24 to November 5 this year, the International Monetary Fund IMF announced that the country should record a positive 6.4% GDP growth, driven by agriculture and transport sectors.

According to the international body, growth should accelerate in 2020 and remain sustained over the mid-term thanks to good performances in cotton production, construction, and port activities.  Results under the 3-year economic program have been very satisfactory so far. All quantitative performance criteria at the end of June 2019 and the structural benchmark of the program at the end of September were met. The budget deficit estimated at 2.3% of GDP in 2019 is expected to be well below 3% of GDP in 2020, in line with the regional criterion.

“IMF staff were pleased to note that the public debt ratio would be stabilized this year and decline in 2020, as a result of continued fiscal discipline and strong economic growth. The 2018 debt reprofiling and the 2019 Eurobond issuance have helped lower borrowing costs, diversify the financing structure, and extend debt maturity,” IMF said.

Moutiou Adjibi Nourou