Public Management

Côte d’Ivoire announces new social measures to combat rising cost of living

Monday, 08 August 2022 17:13
Côte d’Ivoire announces new social measures to combat rising cost of living

(Ecofin Agency) - In June 2022, Cote d’Ivoire’s average annual inflation rate was 4.7%, according to the national institute of statistics.  The rate, which is above the WAEMU convergence criteria threshold (3%), prompted the government to initiate measures to protect the population’s purchasing power. 

Côte d’Ivoire will implement new measures to combat the rising cost of living. The measures were announced by President Alassane Ouattara (photo) in his address to the nation last Saturday (August 6), the eve of national independence day. 

The measures include the extension of the list of housing allowance beneficiaries to include every civil servant and state personnel. The housing allowance has also been increased to XAF20,000 (US$31) monthly. Monthly transport and family allowance has also been increased from XOF2,500 (US$3.8) to XOF7,500 (US11.6) per child for every civil servant and state personnel while family allowance is increased to XOF5,000 (US$7.7) per child for state pensioners. A special end-of-year bonus has also been introduced. It represents one-third (1/3) of the basic monthly salary.

According to President Alassane Ouattara, the new measures will cost the government more than US$430 million yearly.  The pensions and allowances will become effective this August while the special bonus will become effective in January 2023, he explained. 

" In addition [...], in the coming weeks, a new general status governing public servants will be issued for a more efficient and modern public administration,” he added. 

The president also announced upcoming discussions with the private sector to raise the guaranteed minimum income, in line with the 2022-2027 social truce between the government and trade unions. 

The announcements come days after the government revealed the disbursement of more than US$16.5 million, between January and June 2022, from four Covid-19 funds to help the population cope with the effects of the pandemic. 

The initiatives complement the subsidies and price capping measures (for some essential products) that have already cost the country US$650 million (according to the government). All those measures undoubtedly have an impact on Côte d'Ivoire's growth. As the IMF indicates, the country’s 2022 growth is expected to be lower compared to the previous years. Let’s note that since January 2022, the country’s inflation has been on the rise, reaching 4.7% in June. That rate exceeds the WAEMU convergence criteria threshold.

Jean-Marc Gogbeu

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.