Public Finances: 2023 Budget Surplus of 38.6 billion CFA Francs

At the end of the Council of Ministers' meeting on October 16, 2024, in Abidjan, government spokesperson Amadou Coulibaly announced that Côte d'Ivoire's 2023 budget year closed with a surplus of 38.6 billion CFA francs.

This positive result was achieved through the effective mobilization of resources and the prudent management of expenditures, despite a challenging international context. The government’s commitment to maintaining fiscal discipline and the execution of critical programs contributed significantly to this surplus.

The 2023 fiscal year recorded a commendable 85.4% target completion rate for key programs, surpassing previous years' figures of 85.2% in 2022, 82.1% in 2021, and 73.7% in 2020. This demonstrates a consistent improvement in the performance of budgetary allocations and government programs over the years.

Initially, the 2023 state budget was set at 11,694.4 billion CFA francs. However, adjustments were made during the fiscal year, raising the budget to 12,612.9 billion CFA francs. These revisions reflected the evolving needs of public finances and the government's commitment to executing critical state operations.

At the end of the fiscal year, the total revenue collected amounted to 11,831.2 billion CFA francs, representing a recovery rate of 93.8% of the revised budget forecast. Similarly, total expenditure amounted to 11,792.6 billion CFA francs, achieving a 93.5% execution rate.

The budget execution received the approval of the Cour des Comptes (Court of Auditors), which issued a General Declaration of Compliance, a final report on the budget's execution, and an audit report on the performance of the various programs implemented. This comprehensive review confirmed the sound financial management practices and accountability within the public sector, reinforcing confidence in Côte d'Ivoire's public finances.

In conclusion, the 2023 fiscal year stands as a testament to the government’s ability to navigate financial challenges while delivering on key programs and maintaining fiscal stability, setting the stage for continued growth and progress in 2024 and beyond.