Rating agency style="font-family: "Bookman Old Style”, "Serif"">Fitch Ratings confirmed the long-term default rating of foreign currency (IDR) issuers from Benin at 'B+' with a stable outlook.

The confirmed “B+” rating for Benin reflects strong trend growth, a moderate public debt/GDP ratio, a recent record of economic reforms, cautious fiscal policies and proactive debt management, a e. a relatively undiversified economy highly exposed to Nigeria and the agricultural sector, and low development indicators compared to peers. As for the stable outlook, they reflect expectations that growth will remain strong and the government will resume fiscal consolidation, given the history of implementing consolidation plans under the current administration.

Fitch believes that m algré le choc de la guerre en Ukraine, Benin's real GDP growth remained high at 6% in 2022 supported by a strong agricultural harvest, investment spending Public expenditure record at 8.8 per cent of GDP under the Government's Programme of Action and measures to contain inflation. Growth is expected to strengthen to 6.5% in 2023—24 as the shock of rising commodity prices wears off.