The US ratings agency S & P Global Ratings has awarded this Thursday, July 5 in Benin, the long-term and short-term sovereign rating in foreign and local currencies “B + / B” with stable outlook.
According to the agency, economic reforms and increased public and private investment should support the country’s growth prospects. “The notes on Benin are backed by our expectation that the country’s economic activity, as well as its external and fiscal positions, will be gradually strengthened in the coming years, stimulated by the pro-growth reform agenda,” he said. -she.
However, these ratings are limited by the low per capita income of Beninese, in addition to financing needs and the rapid increase in public debt.
In addition, the rating agency predicts that Benin’s real GDP growth will average 6.3% in 2018-21, supported by public and private investment, which will improve infrastructure and boost the tertiary sector (about 50%). % of GDP) and agricultural productivity (around 20% of GDP).
However, S & P notes that per capita GDP will remain low at around $ 1,000.
