Côte d’Ivoire: 2022 Article IV Consultation-Press Release; and Staff Report

IMF Staff Country Reports, July 1, 2022

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The economy recovered strongly in 2021, with growth estimated at 7 percent.
Annual inflation rose to 4.2 percent due to external and supply shocks.
The overall fiscal deficit reached 5.1 percent of gross domestic product, lower than anticipated, mainly because improvements in customs collection and tax administration offset higher security spending.
The deterioration in the external environment linked to the war in Ukraine and regional security challenges are expected to weigh on the macroeconomic outlook in 2022.

Improvements in customs collection and tax administration contributed materially to a fiscal outcome better than expected.
Higher security spending counterbalanced some of the revenue gains, with the net result an overall fiscal deficit of 5.1 percent of GDP.

External and supply shocks contributed to higher inflation, with annual inflation at 4.2 percent.
The war in Ukraine and regional security challenges are identified as risks that are expected to weigh on the macroeconomic outlook in 2022.

The government's new social program can continue enhancing human capital.
While significant progress has been made in broadening access to education, further efforts aimed at improving the quality of basic education and professional training systems would help ease skills mismatch in the labor market.
Ensuring equitable access to health care remains a priority despite notable progress.