Record economic growth in Benin in 2024: a sustained leap but still uneven
Benin recorded an economic growth of 7.5% in 2024, its highest level since 1990, according to the latest Economic Outlook Report published by the World Bank on July 17, 2025.
Benin recorded an economic growth of 7.5% in 2024, its highest level since 1990, according to the latest Economic Outlook Report published by the World Bank on July 17, 2025.
This remarkable performance is mainly attributed to the dynamism of the service and industry sectors, particularly thanks to the boom of the Industrial Zone of Glo-Djigbé (GDIZ).
A consolidated budget framework
The report also emphasizes a notable improvement in budget management. The public deficit was reduced to 3% of GDP, in line with UEMOA’s convergence requirements.
On the social front, poverty is experiencing a slow but measurable decline, moving from 33.2% in 2023 to 31% in 2024, a decrease of 2.2 percentage points. This trend is expected to continue in the medium term, driven by controlled inflation and stable growth.
Prospects for sustained growth
For the period 2025-2027, growth is expected to maintain an average rate of 7.1% per annum, despite an uncertain global context.
However, the World Bank warns that this dynamic is not yet sufficiently benefiting the poorest populations. The institution recommends measures to enhance inclusive growth.
Significant improvement in fiscal revenues
The report also commends the progress made in terms of mobilizing tax revenues. Between 2016 and 2024, these increased from 9.2% to 13.2% of GDP, thanks to digitalization reforms of recovery and simplification of tax rules.
“The mobilization of revenues in Benin has demonstrated resilience in the face of various shocks,” noted the World Bank, referring especially to the temporary closure of borders with certain neighboring countries.
