Côte d’Ivoire’s economic performance has been impressive over the past four years with a robust GDP growth which resulted in a decline in poverty. The government adopted a new National Development Plan (NDP) for the 2016-2020 period, to follow its previous development plan for 2012-2016, which encompasses major structural reforms to achieve a sustained private sector and inclusive growth. The NDP 2016-2020 aims at achieving an emerging economy status for Côte d'Ivoire in 2020, with a substantially reduced poverty rate. In April 2016, donors pledged to fund Côte d’Ivoire’s NDP up to $15.4 billion (in grants and credits) during a consultative group held in Paris. The World Bank Group committed to double its support for the next four years representing approximately $5 billion.
The political situation in Côte d’Ivoire has evolved positively in recent months. The peaceful reelection of President Alassane Ouattara at the end of October 2015 confirmed the country’s stability since the end of the political crisis in 2011. In May 2016, President Ouattara appointed a 10 member experts panel to draft a new constitution, whose changes include the amendment of a controversial nationality clause and the creation of a vice-president position. Approved by the government on September 28, 2016, the text has been criticized by members of the political opposition and civil society groups for lack of consensus throughout the process. The final document will be submitted for a national referendum by the end of October 2016, amidst fears that the turnout may be weak as opposition parties are campaigning for a boycott of the pool. It’s also expected that Ivoirians will go to the polls at the end of December 2016 to renew the current national assembly members.
Côte d’Ivoire’s recent economic growth performance has been strong with unprecedented GDP growth and a controlled fiscal and external balance. There has been a robust recovery of Côte d’Ivoire’s economy in the wake of its 2010 post-elections crisis, with the average real growth rate reaching 8.5% annually between 2012 and 2015. This has been one of the highest rates in Sub-Saharan Africa. Economic growth has been driven by agriculture, services, industry, increased domestic demand, and rising investment. Despite a slowdown in agricultural production in 2016, the strong economic growth rate reported in previous years should be sustained in 2016 and 2017, as real GDP growth is projected to reach 7.8% and 8% respectively.
The poverty incidence in Côte d’Ivoire slightly diminished from an estimated 51% in 2011 to 46% in 2015 in response to the recent rebound of economic growth. Between 1985 and 2008, the estimated share of the population living below the poverty line increased from around 10% to about 49%. During this period, the increase in the depth and severity of poverty was dramatic. The findings of the 2015 Living Standards Monitoring Survey (LSMS – ENV2015) indicate that poverty has decreased to 46% in 2015 as the economy rebounds as a result of improved conditions in both rural and urban areas. Poverty continues to be overwhelmingly rural with disparities in access to basic services, and gender disparities across wealth and urban-rural groups.
Last Updated: Nov 02, 2016