Benin’s expected economic growth pegged at 5.8 percent

Benin's economy is forecasted to grow at 5.8 percent in 2016, up from 5.2 percent in 2015, latest data by the country's finance ministry showed on Monday.

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The government plans to execute its economic policy that is based on development of the private sector through reinforcement of energy, transport and ICT sectors; improvement of productivity of the agricultural sector as well as improvement of access to education and health services.

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The government is equally counting on the dynamism of the informal sector and the possibility of mobilizing more resources by reinforcing capacities of financial networks.

However, the good prospects are also exposed to certain risks such as the economic slowdown in neighbouring Nigeria which is Benin’s key trading partner, due to insecurity caused by Boko Haram terrorist group. This, according to the minister, may delay the implementation of structural reforms and weaken growth dynamism.

Besides this growth, the minister said, Benin’s economy will equally record a 1.2 percent inflation rate in 2016, which is below the regional rate of 3 percent. Enditem

Source: Xinhua

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