Benin’s gross domestic product ( GDP) will run slightly higher to reach 6 % in 2015 from 5.7 % expected for 2014, according to Beninese Minister of Economy, Finance and Denationalization Programs Komi Koutche told Xinhua.
The minister said the forefront convergence indicators such as taxation rates, public investment rate and the overall deficit would stand out respectively at 16.1 %, 8.4 % and 4.8 % of the GDP in 2015, against 16.4 %, 6.9 % and 3.1 % of the GDP in 2014. The economic growth assumptions for 2015 are mainly based on a favourable trend in the prices of exported raw materials, the growth of the agricultural production, particularly food crops and cotton production which would reach 400 000 tons and the continuation of port reforms.
These assumptions will also depend on the development of industry activities such as cement export by the company NOCIB, the increase of public investment under the continuing policy for large public works, the start of hospitality activities and construction of road infrastructure, Koutche added. However, Benin’s economy is expected to benefit over 2015 from the positive impact of the roundtable held in June this year in Paris. That roundtable made it possible for Benin, it is said, to collect about 6,046.5 billion CFA Francs (about US$ 11.517bn) commitments from technical and financial partners.