Abidjan: A new report titled "A Catalyst for Productivity and Economic Transformation" highlights Côte d'Ivoire's recent economic progress and provides an in-depth analysis of ongoing tax reforms and their potential impact on the country's development. With a projected economic growth rate of 6% in 2024—surpassing both the global average of 2.8% and the regional average of 3.2%—Côte d'Ivoire continues to demonstrate economic resilience. This growth is supported by private investment, a dynamic services sector, and inflation maintained at 3.5%.
According to African Press Organization, the country's fiscal health is also improving, with the fiscal deficit expected to decrease from 5.2% in 2023 to 4% in 2024, while public debt remains sustainable at around 60% of the GDP. Despite a decline in poverty, achieving the target of reducing it from 36.5% to 20% by 2030 necessitates more inclusive growth. This requires a growth model that emphasizes productivity, job creation, and stronger tax revenue mobilization.
The medium-term economic outlook for Côte d'Ivoire remains promising, with growth anticipated to reach 6.2% in 2025 and an average of 6.4% through 2027. This growth is expected to be driven by the hydrocarbons sector, services, and private investment. However, the report notes significant risks, including geopolitical instability, climate change, trade tensions, and changes in development assistance.
The report advocates for a transformation of the growth model, emphasizing productivity, human capital development, private investment, and efficient taxation. This approach aims to build a more inclusive, competitive, and sustainable economy for Côte d'Ivoire.