Benin raises 2018 economic growth forecast to 6.5 percent

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COTONOU – Benin’s government raised its economic growth forecast for this year to 6.5 percent, up from an earlier estimate of 6 percent, and said it anticipates 6.5 percent growth in 2019 too.

Speaking alongside the head of an International Monetary Fund (IMF) mission to the West African country late on Friday, Finance Minister Romuald Wadagni said this year’s growth would be about 1 percent higher than last year.

IMF mission head Luc Eyraud said Benin was respecting the terms of its three-year financial assistance programme with the Fund and that the increased growth was due to strong agricultural production and demand from neighbouring Nigeria.  (Reuters)