Abidjan: Tax revenues are the catalyst for more inclusive growth in Côte d'Ivoire, as highlighted in the recent report, *A Catalyst for Productivity and Economic Transformation*. The report examines the country's recent economic progress and delves into the ongoing tax reforms and their potential impact on development.
According to African Press Organization, Côte d'Ivoire is set to experience economic growth of 6% in 2024, surpassing global and regional averages of 2.8% and 3.2%, respectively. This resilience is attributed to private investment, a dynamic services sector, and inflation kept at 3.5%. The fiscal deficit has improved from 5.2% in 2023 to 4% in 2024, while public debt remains sustainable at around 60% of GDP. Despite a decline in poverty, achieving the target of reducing it from 36.5% to 20% by 2030 will require a more inclusive growth model, focusing on productivity, job creation, and stronger tax revenue mobilization.
The medium-term economic outlook appears favorable, with growth projected to reach 6.2% in 2025 and average 6.4% through 2027. This growth is expected to be driven by the hydrocarbons, services, and private investment sectors. However, significant risks persist, including geopolitical instability, climate change, trade tensions, and developments in development assistance.
The report advocates for transforming the growth model to focus on productivity, human capital, private investment, and efficient taxation. This transformation is deemed essential for building a more inclusive, competitive, and sustainable economy in Côte d'Ivoire.