Highlights 

  • The debt-to-GDP ratio projected at 55.1% by end 2018 is expected to continue from its level of 2018 due to the increase in public investment. However, the debt level will be less than the 70% ceiling set under the Pact of convergence, stability, growth and solidarity of WAEMU.
  • The tertiary sector provides more than 50% of GDP because of the heavy reliance of the Beninese economy on re-export and transit trade to Nigeria. The agricultural sector, dominated by cotton production, accounts for 25% of GDP and provides between 45 and 55% of jobs in the country. The contribution of the various sectors to economic growth in 2017 is as follows: primary : 1.4 percentage points; secondary : 1.1 and tertiary : 3.1.
  • Inflation in Benin is kept in check with a medium-term projection below the Community threshold of 3%.
  • In terms of structural advantages, Benin benefits from the following :
    • a seaport used by several landlocked countries 
    • proximity to Nigeria, the most populous West African country, particularly through re-export trade
    • a stable anchor of its currency to the euro 
    • good prospects for major infrastructure projects (roads, airport, port and rail construction), housing, telecommunications, tourism and energy production through the implementation of an extensive investment plan of the Government (PAG).

 

 

2013

2014

2015

2016

2017

2018

Real GDP growth

7.2

6.4

2.1

4.0

5.6

6.0

Inflation rate (annual average)

1.0

-1.1

0.3

-0.8

0,1

0.8

Underlying budget balance / Nominal GDP (%)*

-2.6

-1.9

-8.0

-6.0

-5,9

-4.7

Investment ratio*

27.8

28.6

26.0

24.6

28.4

28.4

Current balance, grants included*

-7.4

-9.1

-8.9

-9.4

-11.5

-10.4

Overall debt*

25.3

30.5

42.4

49.7

54.6

55.1

Sources : BCEAO except the debt data provided by the IMF (Regional Economic outlook report, April 2018)
* in % of GDP 

InstrumentDate of operationValue dateDeadlineAmount
(in millions of FCFA)
StatusMore