Benin unveils 2023 budget, forecasts 6.5 per cent growth

The administration of President Patrice Talon of Benin has unveiled the 2023 budget put at around $4.5 billion, up from $4.4 billion the previous year.

The cabinet also forecasts 6.5 per cent of Gross Domestic Growth (GDP) for the same year, a little higher than the 6 per cent attained last year.

The government forecasts a budget deficit of 4.3 per cent of the GDP.

“A controlled inflation rate and a level of resource allocation to socially sensitive actions that would reach 45.6% of the general budget, i.e. more than $1.4 billion,” the cabinet said in a statement.

“It should be noted that in terms of orientation, the budgetary policy for next year is perfectly consistent with the government’s ambitions in terms of economic and social governance,” the statement added.

The increase in the 2023 national budget comes after the agreement with the International Monetary Fund (IMF) for a new program.