Highlights 

  • After a slowdown in 2015, the economic activity has recorded an acceleration over the last four years in Benin. The real GDP growth rate thus went from 3.3% in 2016 to 6.7% in 2018, before settling at 6.9% in 2019. This growth is driven particular by the implementation of major projects under the Government’s Action Program (PAG), the improvement of agricultural production and that processing activities. Due to the COVID-19 crisis, the growth rate would decrease to 3.5% in 2020, down to 3.4 percentage points compared to 2019.
  • Inflation in Benin remains contained in the WAEMU community standard of 3 % over the 2015-2019 period below the 2.0%. In 2020, the inflation rate is projected to 2.1%. 
  • The budget deficit decreased over the 2015-2017 period while remaining above the community standard of 3 %. It is estimated to 0.5 % of GDP in 2019 against 2.9% of GDP a year earlier. The budget deficit related to GDP would increase above the community standard in 2020 at 3.4%. 
  • As for the current account deficit, it stood at 4.9 % of GDP in 2019 after 4.6 % in 2018. In 2020, it would reach 5.1 % of GDP.
  • The debt-to-GDP ratio decrease to 39.4 % in 2019 after 41.0 % in 2018, in line with the improvement in the budget deficit and the current account deficit. It would be in slight increase in 2020 at 39.8%.  
  • In addition to the prevalent political stability, Benin has several structural advantages. These include:
    • A seaport used by several landlocked countries; 
    • Bordering Nigeria, the most populous country in West Africa, particularly through re-export activities;
    • A stable anchor of its currency to the euro; 
    • A coherent and ambitious economic program.

 

2015

2016

2017

2018

2019

2020

Real GDP growth

1.8

3.3

5.7

6.7

6.9

3.5

Inflation rate (annual average)

0.3

-0.8

1.8

0.8

-1.2

2.1

Underlying budget balance / Nominal GDP (%)*

-5.9

-4.4

-4.3

-2.9

-0.5

-3.4

Investment ratio*

20.7

20.3

24.0

24.9

25.6

22.2

Current balance, grants included*

-6.5

-6.8

-7.3

-4.6

-4.9

-5.1

Overall debt*

30.9

35.9

39.6

41.0

39.4

39.8

Sources : BCEAO, February 2020. except overall debt (IMF, Regional Economic Outlook : sub-Saharan Africa, April 2020) * in % of GDP  

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IssuerInstrumentAdditional detailsDate of operationValue dateDeadlineMore infoStatus
BeninT-BondObligations de Relance (OdR)17/06/202118/06/202118/06/2024More info | CompletedrealizedBénin 17/06/2021
BeninT-BondObligations de Relance (OdR)27/05/202128/05/202128/05/2024More info | CompletedrealizedBénin 27/05/2021
Benin
SI (Security 1)
T-BondObligations de Relance (OdR)29/04/202130/04/202130/04/2028More info
reported | Completed

reported
SI - Bénin 29/04/2021
Benin
SI (Security 2)
T-BondObligations de Relance (OdR)29/04/202130/04/202130/04/2031More info
reported | Completed

reported
SI - Bénin 29/04/2021
BeninT-Bill04/03/202105/03/2021--More info
reported | Completed

reported
Bénin 04/03/2021
Benin
SI (Security 1)
T-Bond18/02/202119/02/202119/02/2026More info
reported | Completed

reported
SI - Bénin 18/02/2021
Benin
SI (Security 2)
T-Bond18/02/202119/02/202119/02/2028More info
reported | Completed

reported
SI - Bénin 18/02/2021
Benin
SI (Security 3)
T-Bond18/02/202119/02/202119/02/2031More info
reported | Completed

reported
SI - Bénin 18/02/2021
Benin------More info
reported | Completed

reported
Bénin
Benin
SI (Security 1)
T-Bond07/01/202108/01/202108/01/2024More info | CompletedrealizedSI - Bénin 07/01/2021
Benin
SI (Security 2)
T-Bond07/01/202108/01/202108/01/2026More info | CompletedrealizedSI - Bénin 07/01/2021
BeninT-BillBons COVID-1902/12/202003/12/202030/12/2020More info | CompletedrealizedBénin 02/12/2020
BeninT-BillBons COVID-1904/11/202005/11/202002/12/2020More info | CompletedrealizedBénin 04/11/2020
Benin
SI (Security 1)
T-Bond19/11/202020/11/202009/10/2025More info | CompletedrealizedSI - Bénin 19/11/2020
Benin
SI (Security 2)
T-Bond19/11/202020/11/202009/10/2027More info | CompletedrealizedSI - Bénin 19/11/2020
Benin
SI (Security 1)
T-Bond22/10/202023/10/202009/10/2025More info | CompletedrealizedSI - Bénin 22/10/2020
Benin
SI (Security 2)
T-Bond22/10/202023/10/202009/10/2027More info | CompletedrealizedSI - Bénin 22/10/2020
Benin
SI (Security 1)
T-Bond08/10/202009/10/202009/10/2025More info | CompletedrealizedSI - Bénin 08/10/2020
Benin
SI (Security 2)
T-Bond08/10/202009/10/202009/10/2027More info | CompletedrealizedSI - Bénin 08/10/2020
Benin
SI (Security 1)
T-Bill30/11/201712/01/201731/05/2018More info
reported | Completed

reported
SI - Bénin 30/11/2017
Benin
SI (Security 2)
T-Bond30/11/201712/01/201701/12/2020More info
reported | Completed

reported
SI - Bénin 30/11/2017
BeninT-BondRachat d'obligations06/08/202007/08/202018/12/2020More info | CompletedrealizedBénin 06/08/2020
BeninT-BillBons COVID-1930/07/202006/08/202004/11/2020More info | CompletedrealizedBénin 30/07/2020
Benin
SI (Security 1)
T-Bill15/03/2017----More info
reported | Completed

reported
SI - Bénin 15/03/2017
Benin
SI (Security 2)
T-Bill15/03/2017----More info
reported | Completed

reported
SI - Bénin 15/03/2017
Benin
SI (Security 1)
T-Bond10/09/202011/09/202003/07/2025More info | CompletedrealizedSI - Bénin 10/09/2020
Benin
SI (Security 2)
T-Bond10/09/202011/09/202026/05/2027More info | CompletedrealizedSI - Bénin 10/09/2020
BeninT-Bond20/08/202021/08/202007/08/2023More info | CompletedrealizedBénin 20/08/2020
BeninT-Bond06/08/202007/08/202007/08/2023More info | CompletedrealizedBénin 06/08/2020
Benin
SI (Security 1)
T-Bond02/07/202003/07/202003/07/2023More info | CompletedrealizedSI - Bénin 02/07/2020
Benin
SI (Security 2)
T-Bond02/07/202003/07/202003/07/2025More info | CompletedrealizedSI - Bénin 02/07/2020
BeninT-Bill19/07/201620/07/201618/07/2017More info | CompletedrealizedBénin 19/07/2016
BeninT-Bill13/04/201614/04/201612/04/2017More info | CompletedrealizedBénin 13/04/2016
Benin
SB (Security 1)
T-Bill21/09/201722/09/201720/09/2018More info | CompletedrealizedSI - Bénin 21/09/2017
Benin
SB (Security 2)
T-Bond21/09/201722/09/201722/09/2020More info | CompletedrealizedSI - Bénin 21/09/2017
Benin
SB (Security 3)
T-Bond21/09/201722/09/201722/09/2022More info | CompletedrealizedSI - Bénin 21/09/2017
Benin
SB (Security 4)
T-Bond21/09/201722/09/201722/09/2024More info | CompletedrealizedSI - Bénin 21/09/2017
Benin
SB (Security 5)
T-Bond21/09/201722/09/201722/09/2027More info | CompletedrealizedSI - Bénin 21/09/2017
BeninT-Bond27/08/201528/08/201531/07/2020More info | CompletedrealizedBénin 27/08/2015
BeninT-Bond27/10/201528/10/201531/07/2020More info | CompletedrealizedBénin 27/10/2015
BeninT-Bond30/09/201501/10/201509/07/2018More info | CompletedrealizedBénin 30/09/2015
BeninT-BillBons COVID-1906/05/202007/05/202005/08/2020More info | CompletedrealizedBénin 06/05/2020
Benin
SI (Security 1)
T-Bond04/06/202005/06/202026/05/2023More info | CompletedrealizedSI - Bénin 04/06/2020
Benin
SI (Security 2)
T-Bond04/06/202005/06/202026/05/2025More info | CompletedrealizedSI - Bénin 04/06/2020
Benin
SI (Security 3)
T-Bond04/06/202005/06/202026/05/2027More info | CompletedrealizedSI - Bénin 04/06/2020
BeninT-Bill18/06/202019/06/202017/06/2021More info
canceled | Completed

canceled
Bénin 18/06/2020
BeninT-Bond21/11/201722/11/201722/09/2024More info
canceled | Completed

canceled
Bénin 21/11/2017
BeninT-Bond06/02/202007/02/202007/02/2025More info | CompletedrealizedBénin 06/02/2020
BeninT-Bond23/01/202024/01/202024/01/2023More info | CompletedrealizedBénin 23/01/2020
BeninT-Bond07/03/201908/03/201908/03/2024More info | CompletedrealizedBénin 07/03/2019
BeninT-Bond07/02/201908/02/201925/01/2022More info | CompletedrealizedBénin 07/02/2019
BeninT-Bond14/12/201817/12/201811/05/2020More info | CompletedrealizedBénin 14/12/2018
BeninT-Bond24/01/201925/01/201925/01/2022More info | CompletedrealizedBénin 24/01/2019
BeninT-Bond29/11/201830/11/201830/11/2021More info | CompletedrealizedBénin 29/11/2018
BeninT-Bond25/10/201826/10/201819/09/2021More info | CompletedrealizedBénin 25/10/2018
BeninT-Bond18/09/201819/09/201819/09/2021More info | CompletedrealizedBénin 18/09/2018
BeninT-Bond24/05/201825/05/201816/03/2021More info | CompletedrealizedBénin 24/05/2018
BeninT-Bond15/02/201816/02/201802/02/2021More info | CompletedrealizedBénin 15/02/2018
BeninT-Bond01/02/201802/02/201802/02/2021More info | CompletedrealizedBénin 01/02/2018
BeninT-Bond18/10/201719/10/201722/09/2020More info | CompletedrealizedBénin 18/10/2017
BeninT-Bond09/08/201710/08/201710/08/2020More info | CompletedrealizedBénin 09/08/2017
BeninT-Bond25/07/201726/07/201726/07/2022More info | CompletedrealizedBénin 25/07/2017
BeninT-Bond03/11/201604/11/201614/10/2021More info | CompletedrealizedBénin 03/11/2016
BeninT-Bond13/10/201614/10/201614/10/2021More info | CompletedrealizedBénin 13/10/2016
BeninT-Bond02/09/201605/09/201605/09/2021More info | CompletedrealizedBénin 02/09/2016
BeninT-Bond28/06/201629/06/201629/06/2023More info | CompletedrealizedBénin 28/06/2016
BeninT-Bond15/03/201616/03/201616/03/2019More info | CompletedrealizedBénin 15/03/2016
BeninT-Bond17/12/201518/12/201518/12/2020More info | CompletedrealizedBénin 17/12/2015
BeninT-Bond12/01/201613/01/201613/01/2019More info | CompletedrealizedBénin 12/01/2016
BeninT-Bond02/12/201503/12/201503/12/2022More info | CompletedrealizedBénin 02/12/2015
BeninT-Bond30/07/201531/07/201531/07/2020More info | CompletedrealizedBénin 30/07/2015
BeninT-Bond08/07/201509/07/201509/07/2018More info | CompletedrealizedBénin 08/07/2015
BeninT-Bond17/06/201518/06/201519/03/2022More info | CompletedrealizedBénin 17/06/2015
BeninT-Bond18/03/201519/03/201519/03/2022More info | CompletedrealizedBénin 18/03/2015
BeninT-Bond09/10/201410/10/201410/10/2021More info | CompletedrealizedBénin 09/10/2014
BeninT-Bill17/02/201618/02/201615/02/2017More info | CompletedrealizedBénin 17/02/2016
BeninT-Bill13/05/201515/05/201511/05/2017More info | CompletedrealizedBénin 13/05/2015
BeninT-Bill17/04/201520/04/201516/04/2017More info | CompletedrealizedBénin 17/04/2015
BeninT-Bill18/02/201519/02/201517/02/2016More info | CompletedrealizedBénin 18/02/2015
BeninT-Bill13/01/201514/01/201512/01/2016More info | CompletedrealizedBénin 13/01/2015
BeninT-Bill10/07/201411/07/201408/07/2016More info | CompletedrealizedBénin 10/07/2014
BeninT-Bill23/10/201424/10/201420/10/2016More info | CompletedrealizedBénin 23/10/2014
BeninT-Bill28/08/201429/08/201427/08/2015More info | CompletedrealizedBénin 28/08/2014
BeninT-Bill19/06/201420/06/201418/06/2015More info | CompletedrealizedBénin 19/06/2014
BeninT-Bill22/05/201423/05/201421/05/2015More info | CompletedrealizedBénin 22/05/2014
BeninT-Bill24/04/201425/04/201423/04/2015More info | CompletedrealizedBénin 24/04/2014
BeninT-Bill27/02/201428/02/201426/02/2015More info | CompletedrealizedBénin 27/02/2014
BeninT-Bill20/03/201421/03/201417/03/2016More info | CompletedrealizedBénin 20/03/2014
BeninT-Bill15/01/201416/01/201414/01/2015More info | CompletedrealizedBénin 15/01/2014
BeninT-Bill13/06/201914/06/201912/09/2019More info | CompletedrealizedBénin 13/06/2019
BeninT-Bill16/05/201917/05/201914/11/2019More info | CompletedrealizedBénin 16/05/2019
BeninT-Bill21/02/201922/02/201922/08/2019More info | CompletedrealizedBénin 21/02/2019
BeninT-Bill09/01/201911/01/201909/01/2020More info | CompletedrealizedBénin 09/01/2019
BeninT-Bill09/08/201810/08/201807/02/2019More info | CompletedrealizedBénin 09/08/2018
BeninT-Bill10/07/201811/07/201809/07/2019More info | CompletedrealizedBénin 10/07/2018
BeninT-Bill21/06/201822/06/201820/06/2019More info | CompletedrealizedBénin 21/06/2018
BeninT-Bill13/04/201816/04/201815/04/2019More info | CompletedrealizedBénin 13/04/2018
BeninT-Bill29/03/201830/03/201828/06/2018More info | CompletedrealizedBénin 29/03/2018
BeninT-Bill11/01/201812/01/201810/01/2019More info | CompletedrealizedBénin 11/01/2018
BeninT-Bill09/11/201710/11/201708/11/2018More info | CompletedrealizedBénin 09/11/2017
BeninT-Bill09/10/201710/10/201720/09/2018More info | CompletedrealizedBénin 09/10/2017
BeninT-Bill13/04/201714/04/201712/04/2018More info | CompletedrealizedBénin 13/04/2017
BeninT-Bill05/07/201706/07/201704/10/2017More info | CompletedrealizedBénin 05/07/2017
BeninT-Bill02/02/201703/02/201701/02/2018More info | CompletedrealizedBénin 02/02/2017
BeninT-Bill18/01/201719/01/201717/01/2018More info | CompletedrealizedBénin 18/01/2017
Benin
SI (Security 1)
T-Bond22/05/202026/05/202026/05/2023More info | CompletedrealizedSI - Bénin 22/05/2020
Benin
SI (Security 2)
T-Bond22/05/202026/05/202026/05/2025More info | CompletedrealizedSI - Bénin 22/05/2020
Benin
SI (Security 3)
T-Bond22/05/202026/05/202026/05/2027More info | CompletedrealizedSI - Bénin 22/05/2020
Benin
SI (Security 1)
T-Bill23/04/202024/04/202022/04/2021More info | CompletedrealizedSI - Bénin 23/04/2020
Benin
SI (Security 2)
T-Bond23/04/202024/04/202024/04/2023More info | CompletedrealizedSI - Bénin 23/04/2020
Benin
SI (Security 1)
T-Bond02/04/202003/04/202006/03/2025More info | CompletedrealizedSI - Bénin 02/04/2020
Benin
SI (Security 2)
T-Bond02/04/202003/04/202006/03/2027More info | CompletedrealizedSI - Bénin 02/04/2020
Benin
SI (Security 3)
T-Bond02/04/202003/04/202006/03/2030More info | CompletedrealizedSI - Bénin 02/04/2020
Benin
SI (Security 1)
T-Bond19/03/202020/03/202024/01/2023More info | CompletedrealizedSI - Bénin 19/03/2020
Benin
SI (Security 2)
T-Bond19/03/202020/03/202006/03/2025More info | CompletedrealizedSI - Bénin 19/03/2020
Benin
SI (Security 1)
T-Bond05/03/202006/03/202006/03/2025More info | CompletedrealizedSI - Bénin 05/03/2020
Benin
SI (Security 2)
T-Bond05/03/202006/03/202006/03/2027More info | CompletedrealizedSI - Bénin 05/03/2020
Benin
SI (Security 3)
T-Bond05/03/202006/03/202006/03/2030More info | CompletedrealizedSI - Bénin 05/03/2020
Benin
SI (Security 1)
T-Bond09/01/202013/01/202013/01/2023More info | CompletedrealizedSI - Bénin 09/01/2020
Benin
SI (Security 2)
T-Bond09/01/202013/01/202013/01/2025More info | CompletedrealizedSI - Bénin 09/01/2020
Benin
SI (Security 1)
T-Bond18/04/201919/04/201919/04/2024More info | CompletedrealizedSI - Bénin 18/04/2019
Benin
SI (Security 2)
T-Bond18/04/201919/04/201919/04/2026More info | CompletedrealizedSI - Bénin 18/04/2019
Benin
SI (Security 1)
T-Bond06/09/201807/09/201807/09/2021More info | CompletedrealizedSI - Bénin 06/09/2018
Benin
SI (Security 2)
T-Bond06/09/201807/09/201807/09/2023More info | CompletedrealizedSI - Bénin 06/09/2018
Benin
SI (Security 1)
T-Bill05/07/201809/07/201807/07/2019More info | CompletedrealizedSI - Bénin 05/07/2018
Benin
SI (Security 2)
T-Bond05/07/201809/07/201809/07/2021More info | CompletedrealizedSI - Bénin 05/07/2018
Benin
SI (Security 1)
T-Bond26/04/201827/04/201827/04/2021More info | CompletedrealizedSI - Bénin 26/04/2018
Benin
SI (Security 2)
T-Bond26/04/201827/04/201827/04/2023More info | CompletedrealizedSI - Bénin 26/04/2018
Benin
SI (Security 1)
T-Bond15/03/201816/03/201816/03/2021More info | CompletedrealizedSI - Bénin 15/03/2018
Benin
SI (Security 2)
T-Bond15/03/201816/03/201816/03/2023More info | CompletedrealizedSI - Bénin 15/03/2018
Benin
SI (Security 1)
T-Bill20/12/201721/12/201707/06/2018More info | CompletedrealizedSI - Bénin 20/12/2017
Benin
SI (Security 2)
T-Bond20/12/201721/12/201708/12/2020More info | CompletedrealizedSI - Bénin 20/12/2017
Benin
SI (Security 1)
T-Bill07/12/201708/12/201707/06/2018More info | CompletedrealizedSI - Bénin 07/12/2017
Benin
SI (Security 2)
T-Bond07/12/201708/12/201708/12/2020More info | CompletedrealizedSI - Bénin 07/12/2017
Benin
SI (Security 1)
T-Bond30/08/201731/08/201731/08/2020More info | CompletedrealizedSI - Bénin 30/08/2017
Benin
SI (Security 2)
T-Bond30/08/201731/08/201731/08/2022More info | CompletedrealizedSI - Bénin 30/08/2017
Benin
SI (Security 3)
T-Bond30/08/201731/08/201731/08/2024More info | CompletedrealizedSI - Bénin 30/08/2017
Benin
SI (Security 1)
T-Bill10/05/201711/05/201708/11/2017More info | CompletedrealizedSI - Bénin 10/05/2017
Benin
SI (Security 2)
T-Bill10/05/201711/05/201709/05/2018More info | CompletedrealizedSI - Bénin 10/05/2017
Benin
SI (Security 3)
T-Bond10/05/201711/05/201711/05/2020More info | CompletedrealizedSI - Bénin 10/05/2017
Benin
SI (Security 1)
T-Bill21/03/201722/03/201720/06/2017More info | CompletedrealizedSI - Bénin 21/03/2017
Benin
SI (Security 2)
T-Bill21/03/201722/03/201719/09/2017More info | CompletedrealizedSI - Bénin 21/03/2017
BeninT-Bond26/11/2015----More info
reported | Completed

reported
Bénin 26/11/2015
BeninT-Bond10/11/2015----More info
reported | Completed

reported
Bénin 10/11/2015
BeninT-Bond24/08/201827/08/201827/08/2023More info
reported | Completed

reported
Bénin 24/08/2018
BeninT-Bond12/06/201813/06/201813/06/2021More info
reported | Completed

reported
Bénin 12/06/2018
BeninT-Bond12/01/201713/01/201713/01/2019More info
reported | Completed

reported
Bénin 12/01/2017