The Ivory Coast Development Plan for economic recovery seeks to promote exports, increase consumption and encourage public and private investors. This reform aims to enable improved macroeconomic stability, with a perspective of emergence in 2020.
Weakened by the crisis that occurred after the presidential elections, the Ivory Coast aims to appease the population to find a better social cohesion and a macroeconomic stability. Between 2012 and 2015, the country gained 35 places in the ranking of “Doing Business World Bank”. In recent years, the business climate has improved significantly and the country jumped 24 places in global competitiveness of economies. “The growth rate amounted to 9.5% over the period from 2012 to 2015. Over this period, we could benefit from an annual growth rate of around 9%, achieved thanks to the numerous reforms implemented, to give a new breath to the economy in a structural manner. Note that this growth is largely due to the favorable development of exports, growth in consumption, not to mention the significant increase in investment, “, asserts the Ivorian Prime Minister Daniel Kablan Duncan, during the presentation of the second edition of the Ivorian consultative group for financing the NDP (National development Plan 2016-2020), held the 17 and 18 May 2016 in Paris. Note that the first edition of this event was held on 4 and 5 December 2012, during the representation of the World Bank in Paris. This Tuesday, May 18, 2016, it was also been underlined that thanks to the NDP 2012-2015, the country has managed to increase its public and private investment. “The global investment rate has doubled from 9% of GDP in 2011 to 20% in 2015. Public investment increased respectively by 3.4% in 2010 to 8% of GDP in 2015, while private investment escalated from 8.9% of GDP to 10.7% over the same period, “added Daniel Kablan Duncan.
The emergence in 2020
The means deployed in Ivory cost to develop investments have allowed people to access essential areas, such as health, education, housing, drinking water and electricity. “We have identified five key areas to access emergence in 2020. The first crucial point is to strengthen the institutions for peace and good governance. The second challenge is the structural transformation of the Ivorian economy, then comes the improvement of living conditions of the population, promotion of women and youth as well as the emergence of a new Ivorian “mentions Daniel Kablan Duncan.”Regarding the World Bank, in 2012, we estimated a financing plan of 2 billion to finally reach 2.8 billion. For the new PND financing plan, we have set a 5 billion goal. We will escort the country to reach sustainable growth by expanding private sector’s investment, strengthening infrastructure and business environment. The World Bank will continue to support and strengthen human capital by developing education, training, sanitation, health and social protection. The World Bank will also strengthen the management of public finances and responsibilities “, added Makhtar Diop, African Vice President of the World Bank. The structural transformation of the economy through the clusters in Ivory Coast, not to mention the processing of raw materials are the pillars the NDP 2016-2020 relies on . To achieve these objectives, the Ivory Coast is determined to maintain the course for inclusive and sustainable growth.
By Darine Habchi