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Benin's new economic memorandum: The World Bank offers ways to strengthen growth

03/03/2022
Categories: Economy/Forex

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The World Bank published on March 1 , 2022 a new Benin Economic Memorandum. Entitled “Accelerating the Growth Momentum and Creating Better Jobs”, the report identifies the main drivers and limitations of the current growth model.

In 2020, Benin officially transitioned from low-income to lower-middle-income country status. But much work remains to be done to solidify this position. To accelerate the dynamics of growth and create better jobs, Benin's Economic Memorandum recommends strong policy options on three axes of analysis. These are the demographic transition, the strengthening of infrastructure and transport services and economic diversification.

This document reveals, among other things, that "to ensure the structural transformation of its economy, Benin would benefit from investing in new engines of growth likely to increase labor productivity and create quality jobs for its workforce. work, especially for young people and women”.

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