{
  "title": "Benin: Staff Report for the 2004 Article IV Consultation",
  "publication": "IMF Staff Country Reports, November 24, 2004",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/benin-staff-report-for-the-2004-article-iv-consultation-17858",
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  "summary": "This 2004 Article IV Consultation highlights that Benin’s economic performance over 2001–03 was strong. Real GDP growth averaged 5.3 percent, driven by growth in the cotton and services sectors. Inflation was low, averaging 2.6 percent per year.",
  "sections": [
    {
      "heading": "Major findings",
      "content": "- Real GDP growth averaged 5.3 percent over 2001–03, driven by growth in the cotton and services sectors.\n- Inflation was low, averaging 2.6 percent per year over 2001–03.\n- The external current deficit narrowed in 2003 as terms of trade improved.\n- Progress in the structural area was mixed."
    },
    {
      "heading": "Macroeconomic developments and drivers (2001–03)",
      "content": "- Growth: Real GDP growth averaged 5.3 percent, with notable contributions from the cotton sector and services sector.\n- Inflation: Averaged 2.6 percent per year.\n- External sector: The external current deficit narrowed in 2003, linked to improved terms of trade."
    },
    {
      "heading": "Risks and developments since the beginning of 2004",
      "content": "- Macroeconomic performance since the beginning of 2004 has suffered from a poor cotton crop.\n- Additional adverse impact from the tightening of import restrictions by Nigeria."
    },
    {
      "heading": "Thematic coverage (as listed)",
      "content": "- Agricultural commodities\n- Commodities\n- Expenditure\n- Exports\n- External debt\n- International trade\n- Poverty\n- Poverty reduction strategy"
    },
    {
      "heading": "Keywords highlighted",
      "content": "- Agricultural commodities\n- CR\n- credit growth\n- Exports\n- ginning mill\n- government\n- government sector\n- investment expenditure\n- ISCR\n- net bank credit to the government\n- Poverty reduction strategy\n- poverty-reducing expenditure\n- poverty-reducing outlay\n- reform agenda\n- Sub-Saharan Africa\n- West Africa\n\nBenin: Staff Report for the 2004 Article IV Consultation (November 24, 2004).\n\n---\n\n Content in this bundle\n\n- cr04368\n  - cr04368 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr04368 (PDF){rel=\"external\" type=\"application/pdf\"}"
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  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/31/benin-staff-report-for-the-2004-article-iv-consultation-17858/index.md)",
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    "Published: November 24, 2004",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451803402.002",
    "Real GDP growth averaged 5.3 percent over 2001–03, driven by growth in the cotton and services sectors.",
    "Inflation was low, averaging 2.6 percent per year over 2001–03.",
    "The external current deficit narrowed in 2003 as terms of trade improved.",
    "Progress in the structural area was mixed.",
    "Growth: Real GDP growth averaged 5.3 percent, with notable contributions from the cotton sector and services sector.",
    "Inflation: Averaged 2.6 percent per year.",
    "External sector: The external current deficit narrowed in 2003, linked to improved terms of trade.",
    "Macroeconomic performance since the beginning of 2004 has suffered from a poor cotton crop.",
    "Additional adverse impact from the tightening of import restrictions by Nigeria.",
    "CR",
    "credit growth",
    "ginning mill",
    "government",
    "government sector",
    "investment expenditure",
    "ISCR",
    "net bank credit to the government",
    "poverty-reducing expenditure",
    "poverty-reducing outlay",
    "reform agenda",
    "Sub-Saharan Africa",
    "West Africa",
    "**_cr04368**"
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