afrol News, 14 March - The Parliament of Côte d'Ivoire today approved the 2002 budget, presented by the government last week. This year's budget, known as a "cleaning up budget" to contribute to the country's economic recovery, balances state expenses and revenues after years of credit financing.
The 2002 budget balances revenue and expenditure at 1.948,6 billion franc CFA (2.91 billion euros). According to a statement by the Ivorian government, "the budget's revenues in 2002 are distributed between interior revenues of 1,374.3 billion franc CFA and external revenues of 572.3 billion franc CFA." External revenues include the newly achieved credits by the World Bank and European Union.
Even if the approved 2002 budget is a "safe" one, it represents a significant increase to last year's budget. This is explained by the expected external revenues, up from practically nothing. In the late 1990s, Côte d'Ivoire was avoided by donors for its poor governance and in 2000 and 2001; the country was isolated because of the military regime, which came to power in December 1999.
According to the governmental newspaper 'Fraternité Matin', the 2002 budget sees increased spending within the government's "priority sectors". These sectors (agriculture, the fight against AIDS, health, basic infrastructure, security and regional administration) are to absorb 16.9 percent of the budget.
The Minister of Economy and Finance, Bohoun Bouabré, who had prepared the budget, foresees a slow recovery of the Ivorian economy in 2002 after years of recession. GDP is expected to rise by 3 percent. The Ivorian socialist-oriented government, in power since last year, has set focus on good governance and the fight against poverty.
Sources: Based on Ivorian govt. and press and afrol archives