(Ecofin Agency) - Since November, the Ivorian government has been working with lawmakers to defend its 2025 budget proposal. The budget, which represents an 11.8% increase, has just been approved by the Senate's Economic and Financial Affairs Committee.

In Côte d’Ivoire, the 2025 budget proposal has cleared a major hurdle after being unanimously approved by the Senate’s Economic and Financial Affairs Committee (CAEF). This milestone was announced by the Ministry of Finance and Budget.

During a session held on December 7, 2024, the CAEF members voted unanimously—15 in favor, none against, and no abstentions—to adopt the 2025 budget and its accompanying tax annex. This approval follows a similar endorsement by the lower house’s CAEF a few weeks earlier. Over five days of discussions, government officials presented and defended the budgets allocated to their respective ministries.

For 2025, the Ivorian government has proposed a spending plan of CFA15,339.2 billion (approximately $24.5 billion), reflecting an 11.8% increase compared to 2024. This budget aligns with the National Development Program (PND) 2021-2025 and is built on ambitious targets, including 6.3% economic growth and a reduction in inflation to 3.4%.

The 2025 tax annex contains 42 articles focused on four main goals. The first is strengthening state revenue through expanded tax bases and measures to combat tax evasion and international tax fraud. The second is supporting businesses with policies to enhance competitiveness. The third is streamlining and simplifying the tax system. Finally, technical measures will be introduced to modernize tax administration.

This tax policy aims to boost public revenue collection, support private sector competitiveness, and modernize the country’s tax framework.

Finance Minister Adama Coulibaly expressed his satisfaction with the Senate’s decision, stating, “By adopting this crucial text, rooted in the principles of public finance law, you are providing the government with the legal tools necessary to mobilize resources and continue development projects to address the urgent needs and high expectations of our population.”

The next step is for the National Assembly to review and approve the budget proposal in a plenary session. Once this final approval is obtained, the budget will be signed into law by the President, allowing its implementation to begin.