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Fitch rating: The agency confirms the B+ grade for Benin

22/06/2023
Categories: General Information

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Benin has a resilient economy. Thus, the Fitch rating agency confirmed the B+ rating with a stable outlook for the country

.

According to the international rating agency, this rating is explained by the resilience of the Beninese economy despite exogenous shocks marked, among other things, by the war in Ukraine, economic growth, and debt control. The inflation rate in 2022 was of the order of 1.3%, and lower than the average in the UEMOA region (7.4%). The performance rating agency Fitch has announced the B+ rating with stable outlook. Benin's anti-inflationary policy and the performance of the agricultural sector, according to the agency, have been decisive in controlling the prices of basic commodities

.

For 2023 and 2024, Fitch announces an estimated growth of 6.5% for Benin. A performance that should be supported by the agricultural sector, and the rapidly expanding Glo-Djigbé Industrial Zone (GDIZ

).
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