Cote d'Ivoire Economic Outlook
November 17, 2020After the economy contracted in Q2 due to the blow from the Covid-19 pandemic, conditions likely improved in Q3, albeit remained challenging overall. The gradual lifting of coronavirus restrictions should have supported activity, with business sentiment improving throughout the quarter. However, still-muted foreign demand is set to have weighed on the external sector. Turning to Q4, social unrest intensified after incumbent President Ouattara secured a third term in office in the 31 October presidential elections, winning around 94% of the votes. However, opposition groups, which boycotted the election, rejected the result and announced a parallel government, which, in turn, resulted in several opposition leaders reportedly being charged with sedition. The escalation of protests and clashes between rival groups could weigh heavily on investor sentiment going forward.
Cote d'Ivoire Economic GrowthAfter being hit hard by the coronavirus pandemic this year, GDP growth is seen picking up pace 2021 on reviving domestic demand. Meanwhile, stronger global demand should bolster the external sector, particularly key oil and cocoa exports. A prolonged health crisis and continued post-election social unrest cloud the outlook, however. FocusEconomics panelists project GDP to expand 6.4% in 2021, which is down 0.1 percentage points from last month’s forecast, and 6.5% in 2022.
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Cote d'Ivoire Facts
|Exchange Rate||585.3||-1.11 %||Jan 01|
|Stock Market||0.7||0.0 %||Jan 07|
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