The IMF and the Ivorian State agree on growth of 1.8% in 2020 and 6.5% in 2021

Posted on 11/18/2020 at 6:18 p.m. by AFP

The Ivorian government and the International Monetary Fund (IMF) have agreed to an economic growth of 1.8% at the end of 2020 in Côte d’Ivoire against 6.5% in 2021 and a budget deficit of 5.9% of the domestic product gross (GDP) in 2020, in a context marked by Covid-19, according to Ivorian government spokesperson Sidi Touré. Sidi Touré indicated these data following the adoption by the Council of Ministers of a communication relating to an IMF mission relating to the 7th and 8th review of the Economic and Financial Program, held from September 15 to October 4, 2020 by video. -conference.

“Economic growth is expected to reach 1.8% in 2020 and 6.5% in 2021 despite the international environment still marked by Covid-19, (while) inflation should be controlled below the 3% threshold of the WAEMU community standard, ”said Mr. Sidi Touré.

At the end of the assessment of the country’s portfolio, the IMF welcomed the efforts made by the Ivorian government in the implementation of the program despite the situation of the Covid-19 pandemic.

To face the major challenges, the parties agreed to a budget deficit of 5.9% of GDP in 2020 ″, a rate which should be reduced to 4.6% of GDP to converge towards the WAEMU community standard of 3% of GDP in 2023, he added.

These last two IMF missions noted a “satisfactory performance of the program at the end of December 2019”, according to the communication which notes a “solid” macroeconomic framework despite the negative impact of the pandemic on several economic sectors.

The government’s rapid and adequate response and strong economic fundamentals, however, have enabled more resilient growth, with macroeconomic prospects remaining favorable over the medium term.

The economic growth of Côte d’Ivoire stood at 7.2% in 2019. Despite the fall in gross domestic product, the country still shows a positive growth rate (1.8%) unlike several economies in the world impacted by Covid-19.

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