The Ivorian government planned a draft budget of CFA9901.1 billion ($17.6 billion) for 2022. This amount, up 17.9% from 2021, was revealed yesterday following the Council of Ministers.

The adoption of this budget will enable the implementation of two major axes of the national development program, including the National Development Plan (NDP) 2021-2025 and the Government's Social Program (PSGouv2). To accelerate the economic recovery after the Covid-19 pandemic, Côte d'Ivoire has initiated a number of reforms to support the private sector, improve the business environment, promote the revival of MSMEs, and build capacity in the agricultural sector. After a recession last year, the Ivorian economy is expected to rebound at 6.5% in 2021, driven on the supply side by agribusiness (5.1%), construction (12.4%) and oil products (23.9%). Consumption and investment are respectively 6.4% and 10.2% in terms of demand. 

According to government spokesperson Amadou Coulibaly, growth will be 7.1% in 2022, supported by the performance of agricultural production, manufacturing (6.8%), mining (3.8%), energy (17.2%), transport (8.2%), telecommunications (6.9%) and trade (8.4%). The World Bank also forecasted a positive growth of 6.2% for the Ivorian economy this year. This is higher than the average 3.3% announced in sub-Saharan Africa.

For 2023, the government eyes on a CFA10,555.8 billion budget and CFA11,616.6 billion for 2024.

Dorcas Loba (intern)