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Côte d'Ivoire Plans 11.5% Budget Increase for 2025

Friday, 14 June 2024 13:21
Côte d'Ivoire Plans 11.5% Budget Increase for 2025

(Ecofin Agency) - Côte d'Ivoire's government announced an 11.5% increase in the national budget for 2025, raising it to FCFA 15,301 billion ($25.1 billion) from FCFA 13,720.7 billion ($22.5 billion) in 2024. Government spokesman Amadou Coulibaly made this announcement following a cabinet meeting on June 12, 2024.

Government projections show this upward trend continuing, with the budget reaching FCFA 17,070 billion ($28.1 billion) in 2026 and FCFA 17,480 billion ($28.7 billion) in 2027. The government aims to improve the efficiency of domestic revenue collection and control operating expenses. It will maintain public debt sustainability to boost investments and anti-poverty spending.

"The government's economic and financial policy will focus on implementing development strategies initiated in previous years," the government stated.

In recent years, Côte d'Ivoire has experienced positive economic momentum with favorable growth prospects. In May, Standard & Poor’s Global Ratings upgraded the country's outlook from "stable" to "positive," maintaining a "BB-" rating. This followed the successful issuance of a $2.6 billion eurobond in January by the world's leading cocoa producer.

Additionally, Côte d'Ivoire recently secured two financing agreements totaling $4.8 billion with the International Monetary Fund (IMF) under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF).

The multi-year budget plan for 2025-2027 is based on an average annual GDP growth forecast of 7.4%.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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