Benin: Second Review under the Extended Credit Facility and Request for Modification of Performance Criteria – Press Release; and Staff Report
July 11, 2018
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Economic growth remains strong, driven by cotton production, increased public investment, and a vibrant tertiary sector that benefited from the economic recovery in Nigeria since June 2017. The fiscal consolidation path envisages a lower than originally programmed fiscal deficit (including grants) in 2018—thanks to stronger domestic revenue mobilization—and attainment of the WAEMU convergence criterion of 3 percent of GDP in 2019. Program implementation remains satisfactory with all end-December 2017 quantitative performance criteria (QPCs) met. The ongoing rebasing of the national accounts initiated in 2017 is expected to be completed later in 2018.
Subject: Capital spending, Current spending, Expenditure, Public debt, Public investment and public-private partnerships (PPP), Revenue administration
Keywords: Africa, Benin, Capital spending, contribution to the build-up, CR, Current spending, debt issuance, financing, Global, ISCR, long-term debt, programmed fiscal consolidation path, Public investment and public-private partnerships (PPP), revenue, revenue performance, short-term debt, Sub-Saharan Africa, updated debt sustainability analysis, WAEMU convergence criterion
Pages:
78
Volume:
2018
DOI:
Issue:
217
Series:
Country Report No. 2018/217
Stock No:
1BENEA2018003
ISBN:
9781484367285
ISSN:
1934-7685
