(Ecofin Agency) - The Ivorian government announced yesterday it has revised its 2021 state budget upward. From $14.8 billion, the budget is now $16 billion.

According to authorities, this decision was necessary given “the impacts that Covid-19 has had and continues to have on the economy, and the need to improve the living environment and well-being of the population.”

While the poverty rate in Côte d'Ivoire has fallen from 44.4% in 2015 to 39.5 in 2018, according to the World Bank, it remains high. The institution urged the country to strengthen its development strategy for a better distribution of wealth. During a meeting, last month, the President of the World Bank Group, David Malpass, and the Ivorian Prime Minister, Patrick Achi, discussed issues relating to economic diversification, the need for land reforms, improving access to financing, investment in human capital, and the importance of peace and stability in the Sahel region.

For next year, Côte d'Ivoire is eyeing a $17.6 billion budget. The amount will cover 30 allocations and 150 programs.

Dorcas Loba (intern)