Benin in turn deploys an anti-Covid economic plan

Audio 02:07

By: Jean-Luc Aplogan

Long awaited on his anti-Covid economic plan, President Patrice Talon released June 10, 74 billion CFA francs to help businesses, employees, artisans and the extremely poor to get through the difficult phase of the Covid-19 epidemic. A plan that includes a series of measures.

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Benin expected growth of 7.6%, it will be 3.5, according to readjusted forecasts. Several sectors have been affected, the government has released 74 billion, to protect households, businesses, employees and artisans. These are not "magic billions", they come out of the state coffers, according to the Minister of Finance who adds that it is the result of the consolidation of public finances.

A good part of the envelope benefits companies, 70% of gross wages paid by employers over the past three months will be reimbursed. The State also reimburses 3 months of commercial rents to travel agencies and hotels and their rule 3 months of electricity consumption.

Credit up to 100 billion CFA francs for businesses

The plan plans to subsidize the rise in electricity prices for all subscribed households, 55,000 listed artisans will receive cash to compensate for 3 months of shortfall, or the exemption of car vignette for passenger transport companies .

► Read also : Benin eases its measures to fight the coronavirus

Then there is this 100 billion line of credit for businesses, it is the flagship measure of Romuald Wadagni, Minister of Finance. "  Up to 100 billion, companies can go to micro finance structures to banks, request their credit, these credit files will be studied, credit will be granted at a rate of 0%,  " he said. he.

"The measures have lived up to what the private sector hoped for"

This measure addresses the concerns of bankers and exporters. The latter, for lack of activity, had late credit maturities. Régis Facia, second vice-president of employers, is delighted: “  The employers welcome these measures with satisfaction. These are all things that show that the measures have lived up to what the private sector hoped for  . ”

For at least three years, the State has found the solution for bank loans, according to, according to the Minister of State for Planning and Development of Benin, Abdoulaye Bio Tchané, who is already thinking about after Covid-19. "  After the pandemic, Benin must continue to live, the Beninese must continue to live, and government action must have the desired effect  ".

The measures are applicable immediately according to the government, the targeted beneficiaries wait for the first checks or the first transfers. The Covid-19 epidemic arrived in Benin in mid-March. For three months, Benin's economic activity has slowed down, and several sectors have reduced or suspended their activities.

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