(Ecofin Agency) - The government of Benin adopted this week its Finance Act for 2020. The new budget of 1,986.9 billion CFA Francs ($3.3 billion) is 5.8% higher than the 1,877 billion CFA Francs ($3.1 billion) adopted in 2019.
Budget deficit is expected to be 1.8% of GDP next year, 0.4% down the deficit in 2019. According to authorities, welfare spending estimated at $776 million in 2019, should further increase. “The draft budget is the result of a participatory approach and dedicates a significant improvement in resources for socially sensitive actions,” says the report of the Council of Ministers.
Benin expects GDP growth to reach 7.6% in 2020.
Moutiou Adjibi Nourou