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Debt: the PDCI makes an estimate of 23 000 billion FCFA

16/02/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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The spokesperson for the Democratic Party of Côte d'Ivoire (PDCI, opposition) said that with a mobilization of revenue of 6 132.1 billion CFA francs in 2022 and a debt service of 3,179 billion FCFA, the country could reach a debt of 30,000 FCFA in 2025 at this rate.

During a press lunch on Tuesday, February 14, 2023, PDCI spokesperson Bredoumy Soumaila announced: “Our country is buckling under the weight of its debt. Compressed to around 4,000 billion CFA francs after the HIPC Initiative was reached, our debt is estimated today at 23 trillion CFA francs.” According to him, Ivory Coast's debt “will reach 30,000 billion FCFA in 2025” at this rate if the total amount of revenue, which amounted to 6,132.1 billion FCFA, is considered for the 2022 fiscal year when debt service reached 3,179 billion FCFA.

However, he considered that Côte d'Ivoire's budget balance is in deficit. “The budget deficit is now considered by the government to be an indispensable means of its economic management”, said Bredoumy Soumaila, while drawing the attention of the public authorities to a “chronic deficit”.

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