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Conclusion of the MEDC/FEC and FRD program: Benin takes a key step in its economic program

21/10/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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The staff of the International Monetary Fund (IMF) has concluded the fifth review of the Extended Credit Mechanism (EDC) and Extended Credit Facility (ECF) program and the second review of the Resilience and Sustainability Facility (EFF) (FR). A key step that Benin is taking in its economic program

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The conclusion of the fifth review of the program by MEDC and the FEC and then the second review of the FRD marks the solidity of the country's economic transformation efforts, which rely in particular on the diversification of exports and the rise of the technology and tourism sectors. The Beninese government is aiming for a budget deficit in line with the UEMOA standard of 3% of GDP, while significantly increasing social spending. Emphasis is placed on education, health and social protection, with particular attention to improving the targeting of the most vulnerable populations through better management of the social register. Likewise, the government has made significant progress in its climate finance agenda, with the integration of climate issues into the 2025 budget, a direct result of the round table on climate finance organized last July in Cotonou

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