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Benin / Economy:
The US Standard & Poor's Global Agency unveiled its latest report. Published on July 05, 2018, the evaluation gives Benin the B + / B rating. The country is ranked 132nd. According to the analyzes, this result is linked to the realistic forecasts made by Benin, which have been boosting the economy for several months. Benin's growth is estimated at 6.3% between 2018 and 2021, and will be driven by public and private investment. According to the comments of the Western press, this rate will make possible "the development of more infrastructures, which will stimulate the tertiary sector and the agricultural production", which account respectively for 50% and 20% of GDP.
Whereas In Benin, the populations and certain categories of civil servants are constantly humming the forbidding speech of the scarcity of financial resources, international statistics prove the opposite. Benin can do better according to its annotation. According to Standars and Poor's, Benin's annotation explains that the country is less vulnerable in the short term. However, it may face uncertainties related to its ability to meet its financial commitments. For the rest, the report confirms that Benin currently has the capacity to respect its financial commitments.
Overall, Benin's annotation reveals positive figures and suggests great prospects for Benin. Its results follow the first analysis of the Cotonou port activity, the cotton sector, which has been revived for almost a year thanks to the arrival of Patrice Talon in power. The delegated management of the port of Cotonou by the Belgian port of Antwerp, its ongoing modernization and its future expansion are reasons to believe that its activities will be stepped up.
However, according to the report, the Beninese authorities must build on certain levers to stabilize growth. The establishment of a winning partnership with Nigeria, will give breath to the Beninese economy. Similarly, the management of the energy crisis has stalled Benin in the report. Everything suggests that everything is moving for Benin, because energy problems according to the Minister of Energy are about to find a solution. Jean Claude Houssou expressed his satisfaction this week, after a descent on the construction site of the 120mgw power plant at Maria Gleta
According to analysts, the concerns are less glaring than the outlook. In truth, there are many positive improvements in infrastructure and reforms. Point hailed precisely by the agency Standard and Poor's. Several reforms have been put in place to clean up not only the business environment and boost investment, but also in Benin's administration, where the government is waging a relentless fight against corruption.
For the agency, the agenda Government reforms, moreover, demonstrate a "pro-active policy approach", whose main focus has been the strengthening of public governance. Other new laws, whose purpose is to improve the business climate and the creation of commercial courts, as well as the adoption of a series of decrees and laws to increase transparency – especially in public procurement – will support, if they are "quickly applied", GDP. A forecast that, for the agency, will bring a revitalization of the confidence of foreign investors, especially given the solid record of Benin in terms of democratic stability.
Benin is progressing well and this is proof that the reforms put in place by Patrice Talon bear fruit. They must continue in spite of the screams of ostracism. While visiting Paris, Patrice Talon received the support of Emmanuel Macron, and later that of Pope Francis who invited him to change the paradigms.
Standard and Poor's is formal; Benin's rating can progress rapidly. If its prospects are true, the external deficit and the public debt fall, then it can consider increasing it. Conversely, listeners reserve the right to lower it if announced economic reforms slow down. So Talon must accelerate.
Phar-LePointAfrique
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