Benin: 2017 Article IV Consultation and First Review Under the Extended Credit Facility Arrangement and Request for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Benin

International Monetary Fund

No 2018/001, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2017 Article IV Consultation highlights that Benin has shown mixed macroeconomic performance in 2016, with the economy weathering negative spillover stemming from a difficult external environment. Growth was about 4 percent, but a recovery is expected in 2017–18, owing to strong agricultural production, an increase in public investment, and a buoyant tertiary sector. Economic growth is accelerating and inflation remained negative in 2016 and through end-August 2017 but is forecasted to average 0.6 percent in 2017. The medium-term outlook continues to show favorable signs, with high economic growth and low inflation. Cuts in recurrent spending have contributed to a smaller than programmed budget deficit of 6.0 percent of GDP in 2016 from 8.0 percent in 2015.

Keywords: ISCR; CR; private sector; Benin; Beninese authorities; authority; Benin authorities; executive board discussion; development goal; fiscal consolidation effort; convergence criterion; long-term debt service profile; Public investment and public-private partnerships (PPP); Public investment spending; Capital spending; West Africa; Africa; Global (search for similar items in EconPapers)
Pages: 104
Date: 2018-01-05
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