Benign. Cotton, to boost growth

It should also settle at 5.9% in 2023, thanks in particular to the increase in cotton prices and the increase in public investments, estimated Fitch Solutions Country Risk & Industry Research in its recent report.

“Benin’s real GDP growth will remain robust, at 6.3% in 2022, compared to an estimate of 7.2% in 2021. This slowdown is mainly due to the disappearance of favorable base effects”, underlines the document titled “ will grow thanks to robust public investments and high cotton prices”.

In 2021, the authorities approved the 2021-2026 Government Action Plan of $20.5 billion. Its objective: to maintain these investments in the infrastructure sector at high levels over the next few years. Public investment in infrastructure will also be the main engine of growth in Benin’s economy during the current year.

In addition, Fitch Solutions also expects private investment to grow, as the easing of restrictions related to the Covid-19 pandemic and high cotton prices are expected to boost private consumption.

READ ALSO

Leave a Comment

Your email address will not be published.