Publication: Cote d’Ivoire - Systematic Country Diagnostic Update: Countdown to 2030 - SCD Update
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2023
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2023-08-16
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Côte d’Ivoire experienced strong growth over the last decade. For the next ten years, the government has set ambitious targets, including reaching emerging market status by 2030. This would require maintaining a fast growth path to double gross domestic product (GDP) per capita. To achieve this and make economic growth more inclusive. Economic success has been associated with a sharp decline in poverty, and a moderate expansion of the middle class. Although the poverty rate declined substantially, it remains high, as does inequality, and disparities within the country are concerning. The global Coronavirus (COVID-19) pandemic had a significant impact on the economy, with the swift response helping to mitigate the impact. The pandemic also had a significant impact on poverty and livelihoods. As the country exits the COVID-19 crisis with limited fiscal space, it needs to renew its emphasis on structural reforms. The country is coming out of the crisis with limited fiscal space and higher public debt, restricting its ability to continue pursuing high public investments and ensuring adequate levels of social spending. The impact of COVID-19 on advanced economies may also mean a sustained decline in Foreign direct investment (FDI) inflows. The analysis of this Systematic country diagnostic (SCD) update indicates that Cote d’Ivoire will need to continue to remove market frictions, sustain investment in infrastructure and human capital for higher-productivity and long-term growth. Although, the report is prepared in a complex global economic context with geopolitical tensions, a climate emergency, and rising regional security risks, the fundamental challenges to inclusive growth and poverty reduction have not significantly changed since the 2015 SCD. The key policy challenges and opportunities to promote shared prosperity and reduce poverty are structured along three pathways: (1) Improving agricultural productivity and rural incomes; (2) Creating jobs through private sector–led growth; and (3) Enhancing service delivery and public spending to accelerate human capital development.
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“World Bank. 2023. Cote d’Ivoire - Systematic Country Diagnostic Update: Countdown to 2030 - SCD Update. © World Bank. http://hdl.handle.net/10986/40209 License: CC BY-NC 3.0 IGO.”
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