Macro - Country Economic Forecasts - Côte d'Ivoire

Macro - Country Economic Forecasts - Côte d'Ivoire

Real GDP growth decelerated to 6.7% in 2022 due to marked headwinds, including weak cocoa demand, elevated price pressures, expensive external borrowing, and increased social expenditure which diverted funds from productive public investment. Moreover, the country’s cocoa industry – a key source of growth, exports, and employment – is undergoing expensive reform. This, coupled with unpredictable weather patterns, is adding pressure on Côte d’Ivoire’s socioeconomic status through the impact on farmer welfare. That said, our outlook on the Ivorian economy remains positive, as we believe external pressures will abate, and that the domestic economic environment will improve. As such, we forecast real economic growth of 6.0% this year.