A staff team from the
At the conclusion of the visit, the team issued the following statement:
“The macroeconomic performance remained solid in 2016, with GDP growth above 6 percent for the second consecutive year. Inflation remains low, owing to low international oil prices and an elevated supply of cereal products on the market. The external current account deficit improved due to higher exports and workers' remittances.
“PSI program implementation continues to be satisfactory overall. All the quantitative criteria and indicative targets for
“The outlook for 2017 remains favorable, with growth once again expected to exceed 6 percent. This will nevertheless require continued fiscal consolidation, strengthened public financial management and enhanced governance, improvements to the business climate, and measures to promote SMEs and social inclusiveness. The discussions between the authorities and the team focused on these particular points.
“Reaching the PSE objectives also requires a faster pace of reform to promote private investment, including foreign investment. Growth driven by public investment alone is not sustainable. In this respect, the team welcomes the progress made in this area, particularly, the law passed on the
The team met with the President of the Republic, the ministers responsible for the economy, finance and planning, the civil service, industry and mines, the BCEAO National Director, other senior government officials and development partner representatives. The team wishes to thank the authorities for their hospitality, as well as the close working relationship and climate of openness in evidence throughout the discussions.