The National Assembly of Benin unanimously adopted Tuesday afternoon the draft budget 2021, balanced in resources and expenses to the tune of 2,452.192 billion CFA francs (more than 4.5 billion dollars).

The text is based on a GDP growth rate of 6% against 2.3% in 2020. It is mainly driven by the double challenge of strengthening the resilience of the national economy and its recovery in the face of exogenous shocks, as well as fiscal consolidation and the strengthening of the social model under construction.

Speaking at the adoption plenary at the Palace of Governors of Porto-Novo, the Minister of Finance and Economy, Romualde Wadagni, said that the revenue forecasts amounted to 1,349.914 billion FCFA (nearly 2.5 billion dollars) against 1,246.686 billion FCFA (more than 2.3 billion dollars) in the amending finance law for 2020.

"Resources from outside will be made up of grants, budget support and borrowing," he said. Regarding financing resources, explained Mr. Wadagni, amounting to 1,102.278 billion FCFA (more than 2 billion dollars), they will be mobilized from technical and financial partners and investors.

State spending, he continued, will stand at 1,780.229 billion FCFA (more than 3.2 billion dollars) in 2021 against 1,698.488 billion FCFA (more than 3.1 billion dollars) in the 2020 amending finance law.

This increase "is linked to the continued implementation of several social measures, in particular in support of households and for the benefit of vulnerable groups and the year-on-year increase in socially sensitive spending", noted the Minister.

As for investment spending, he added, it will reach 596.842 billion FCFA (more than 1.1 billion dollars), an increase of more than 40 billion FCFA (nearly 74 million dollars) compared to the 2020 amending finance law.

This increase "is related to the continuation/completion of ongoing projects and the start of new projects," Wadagni explained. End