Benin: Third Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Benin
International Monetary Fund. African Dept.
Dis 2018 · International Monetary Fund
I-Ebook
92
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reportIzilinganiso nezibuyekezo aziqinisekisiwe Funda Kabanzi
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The growth momentum continues, driven by strong port activity, high cotton production, and the recovery of the Nigerian economy. The 2019 budget will bring the commitment-based fiscal deficit below the WAEMU convergence criterion of 3 percent of GDP next year. Program implementation remains satisfactory with all end-June 2018 quantitative performance criteria (QPCs) met; but the continuous QPC on non-accumulation of new domestic arrears was breached over March-June due to an institutional oversight.
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