Côte d’Ivoire quickly returned to top growth rates, following the the political crisis in 2011.
This allows companies and workers to benefit from excellent growth perspectives.
The World Bank has made the observation, relayed by the Ecofin Agency:
Côte d’Ivoire ranks second in terms of rapid growth rates in sub-Saharan Africa and fourth in the world, says a World Bank report on the country’s economic situation, published on Thursday, entitled “At the gates of paradise.”
The reports indicates that this ranking is due to an acceleration of Ivorian growth, starting from the end of the post-election crisis. Indeed, at a rate of -4% in 2011, the country’s growth reached 7.6% in 2017, peaking at 10.7% in 2012 and 9.2% in 2015.
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This performance is supported by a rebound in the agricultural sector and good management of the upheavals caused by “the political uncertainties due to the financial demands of some military and part of the civil service, and the sharp drop in the price of cocoa”, explains the document.
However, while commending the Ivorian authorities for their satisfactory economic performance, the institution pointed out an increase in the country’s budget deficit.
To this end, the World Bank recommends a budgetary adjustment of 1.5% of GDP over two years. It also calls for an improvement in the mobilization of domestic finance and better expenditure control by 2020.
Finally, to catch up with the technological gap and develop more inclusive growth, the institution recommends further extroversion of the economy and better involvement of actors of the private sector.
For 2018 and 2019, the Bretton Woods institution forecasts a growth rate of around 7%, for the country.