Less than 4 years after the post-election crisis of October 2010, Côte d’Ivoire has made substantial progress towards improving the conditions for a sustainable development. On the economic front, the country has made great leaps in development since 2011 when the GDP growth rate was in steep decline (-4.7%). Côte d'Ivoire is close to experiencing a double digit economic growth rate (10.7% in 2012, 8.7% in 2013 and 9 to 10% in 2014). In addition to stabilizing the socio-political and security situation, the country was also able to implement several reforms allowing for a sharp improvement in the business environment. Côte d’Ivoire was ranked among the 10 best reformers two years in a row (2014 and 2015) in the World Bank’s Doing Business report. Ivorian authorities are aiming to ensure that through the National Development Plan (PND) for the period 2012-2015, Côte d’Ivoire becomes an emerging country by 2020.
Since 2013, a rich political dialogue has improved the atmosphere between the party in power and the opposition. The provisional release of pro-Gbagbo major leaders, the thawing of a portion of their assets, the return of many exiles, and the reintegration of the AFD (Alliance of Democratic Forces, the opposition coalition) members within the Independent Electoral Commission (CEI), reveals the inclusive efforts being prior to the upcoming presidential elections scheduled for October 2015. Despite an improved economic climate, Ivorians are still facing areas of instability, notably in regards to issues related to rural land, nationality, reintegration of former combatants and persons at risk, and human rights.
Côte d’Ivoire is the second largest economy in West Africa and is among the largest exporters of cocoa and cashew nuts. It has great economic potential. The macroeconomic performance over the past two years is impressive, with a growth rate of around 8.7%. Inflation remains subdued at 2.5%. The macroeconomic outlook in 2014 remains positive, given the anticipation of such a high growth rate and low inflation rate. However, the strong growth in the medium term remains subject to an increase in private investments and to an adequate external financing enabling public investment to increase up to 8% of GDP, in accordance to the rate set by the National Development Plan for the 2012-2015 period. The continued strong macroeconomic performance and an acceleration of structural reforms are needed to sustain GDP growth, improve the living conditions of vulnerable populations, and facilitate the transition of the Ivorian economy to an emerging economy.
Côte d'Ivoire has fallen behind in the achievement of most Millennium Development Goals (MDGs) and almost all indicators are flat or have deteriorated. This is mainly due to the succession of multifaceted crises that the country has experienced since the beginning of the decade. As a direct result of these crises, the level of poverty has increased from 36% in 1998 to about 48 to 50% in 2008, especially in rural areas where they are most evident. Ranked 171st out of 187 countries in the Human Development Index (HDI) report in 2014, Côte d'Ivoire has, however, undertaken significant efforts in terms of access to basic social services and job creation.
Last Updated: Jan 12, 2015