On the sidelines of a visit to Cotonou, a delegation of the International Monetary Fund (IMF) said Benin’s economy should grow beyond 4% this year, that rate recorded in 2016.

The nation plans to bring down its budget deficit to 1.9% of its gross domestic product (GDP) in the next two years, from 6% in 2016. Concerning its economic outlook, IMF forecast a very high economic growth and a low inflation for Benin, driven by the recovery of the Nigerian economy and the government’s action plan. However, the only issue is the increasing pressure of the country’s internal debt, according to the Bretton Woods institution.

“Despite favorable economic perspectives, the delegation and the authorities agree that there remain challenges to tackle, knowingly: prioritizing public expenditures to stimulate inclusive growth and reduce poverty; accelerate tax and customs reforms to mobilize more internal resources; improve public investments’ efficiency to maintain the expected growth level in the medium term; and better manage public debt to preserve viability,” declared Norbert Toe who led the IMF delegation.

Aaron Akinocho