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Ivory Coast President Ouattara forecasts GDP growth of 7.2% in 2023

In an address to parliament on Tuesday, Ouattara said the economy would expand 7.2% in 2023, even as inflation and interest rates remained high   -  
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Ivory Coast

The President of the Republic, Alassane Ouattara, points out the resilience of the Ivorian economy in the face of crises due to the difficult international situation and announces brighter economic prospects.

In his 3rd State of the Nation Address to the Members of Parliament and Senators at the Sofitel Abidjan Hotel Ivoire on Tuesday, April 25, 2023, the Head of State stressed that in the face of global inflation, the Ivorian government has taken measures to maintain this upward trend.

Also, faced with the rise in the price of wheat because of the Russian-Ukrainian war, Côte d'Ivoire has supported millers to the tune of 62 billion CFA francs ($100 million), including two billion to strengthen the sector.

For fuel, 725 billion CFA francs in state subsidies have been granted to mitigate the impact of international price increases on the cost of transport and goods. This corresponds to 2% of the Ivorian gross domestic product (GDP).

In addition, the government has adopted a vast program for the agricultural, fisheries and animal resources sectors to ensure food security in the country.

He noted that during the African Union Summit held in February in Addis Ababa (Ethiopia), the Abidjan Declaration on Nutrition was unanimously welcomed. It is, he recalled, a Call to Action for food and nutrition security, and human capital on the continent.

Despite this difficult situation, Côte d'Ivoire has continued its dynamic development of basic social infrastructure, roads, education, electrification, drinking water supply, health facilities, training, youth ...

Announcing the continuation of his commitment to modernize the country, Mr. Ouattara announced for 2023, "strong actions" amounting to 361 billion CFA francs programmed for the benefit of young people, given that he dedicated this year to youth. For the period 2023-2025, a program valued at 1,118 billion CFA francs is planned, for the benefit of more than 1.5 million young people.