ON THE ECONOMY OF CÔTE D'IVOIRE:
| I welcome the emergence of an increasingly dynamic national private sector, creating sustainable jobs |
Extract from the message to the Nation of His Excellency Alassane OUATTARA, President of the Republic of Côte d'Ivoire 12.31.2023
Ivorians;
My dear compatriots;
Dear Friends of Côte d'Ivoire;
I am particularly pleased to address you on the occasion of the traditional New Year’s address to the Nation.
The year 2023, despite regional and international tensions, has been a very rich year, in terms of economic and social development for our Nation.
[… ]
Dear brothers and sisters;
On the economic front, the Economic and Financial Program agreed upon with the International Monetary Fund is being implemented satisfactorily, as evidenced by the first review, held in September, whose conclusions were approved, in December 2023, by the IMF Executive Board.
The outlook for our country remains promising, despite the challenging global economic environment, including inflationary pressures, tighter monetary conditions and regional & international instability.
Economic growth projected at 7% in 2024, remains sustained. Structural reforms will continue, to maintain the momentum of transformation of our economy and improvement of people’s living conditions, while effectively facing new challenges including climate change and security issues.
Côte d'Ivoire continues to benefit from the confidence of bilateral and multilateral development partners, especially the private sector, which continues to invest in the national economy.
In this regard, I welcome the emergence of an increasingly dynamic national private sector creating sustainable jobs, capable of supporting the diversification of our economy, particularly in high-potential sectors. I encourage our national entrepreneurs, future large companies and small and medium-sized enterprises (SMEs) to invest in food production, to make our food sovereignty policies effective.
The start of the production of natural gas and petrol from the "Baleine" deposit, i.e. the largest hydrocarbon discovery ever made by an oil company in Côte d'Ivoire, by the Italian group ENI, reinforces our hopes for energy autonomy.
With an estimated production capacity of 150 thousand barrels per day in 2027, the exploitation of the “Baleine” deposit will increase domestic oil production to about 200 thousand barrels per day, compared to only 30 thousand barrels per day today.
This deposit will provide, from 2026, nearly 200 million cubic feet of gas, to bring national natural gas production capacity to nearly 430 million cubic feet, thus contributing to a better control of the inputs necessary for our electricity production.
Thus, our ambition to make Côte d'Ivoire an energy hub in the sub-region is materializing every day.
In this context, and taking into account the challenges posed by climate change, we reaffirm our commitment to responsibly exploit our natural resources. That is why the “Baleine” deposit is net-zero carbon. The remarkable participation of our country at COP 28 in Dubai, with the Vice-President of the Republic, also gave the opportunity to show our progress regarding climate action, in particular, through the launch of the Climate and Development Report of Côte d'Ivoire by the World Bank and the progress made in terms of carbon credits, from the conservation of the Taï forest, a UNESCO World Heritage Site.
My dear compatriots,
Our country will host, from January 13 to February 11, 2024, in just 13 days, the 34th edition of the African Cup of Nations (AFCON), 40 years after that of 1984. This event, which is one of the most publicized in the world, will amplify the influence of our country. The AFCON represents, beyond the sporting aspect, an opportunity to give a new impetus to the development of the tourism & cultural industries and several sectors of our economy.
In accordance with our commitments, we have made available to the organizers, six stadiums of international standards, training grounds for each of the 24 qualified teams, accommodations complying with the standards, and easy & secure travel conditions.
To this end, I invite our Compatriots, with their legendary hospitality, to mobilize, to offer a warm welcome and stay to the various national teams and supporters who do us the honor and friendship of coming to the «country of true fraternity».
Each Ivorian, and each inhabitant of our beautiful country will have to consider themselves as an Ambassador of the AFCON.
Let us mobilize to make this AFCON a great celebration of youth, Ivorian hospitality and African fraternity.
Let’s be united behind our national team, the Elephants, and offer the best in the world!
It is on this note of hope that I warmly wish all our compatriots and all the inhabitants of our beautiful country an excellent year.
Happy New Year 2024 to all!
Long live the Republic, long live Côte d’Ivoire.
May God bless our beautiful country!
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