The year 2013 was marked by the satisfactory implementation from the three-year program supported with the Extended Credit Service. The program seemed to be completed in June 2013 when nationwide authorities had met almost all the quantitative performance criteria. Official reserves had reached very similar to 7. 3 months of imports with end-2013. In supplement to good financial performance, macroeconomic stability was supported by the prudent monetary policy aimed towards absorbing the inflationary pressures caused by excess bank liquidity.
Strong growth has created jobs, bringing unemployment down to 10. 1% according to the national survey on employment plus the informal sector (Enquête nationale de référence sur l’emploi et le secteur informel, ENRE/SI) done in 2012 and also published in 2013. It is significantly lower than the 32% unemployment rate within the 2008 EPCV review on household living conditions (Enquête permanente sur l'ensemble des conditions de strive des ménages), but these online surveys each used some other methodology. The ENRE/SI final results seem encouraging, but the labor market nonetheless poses structural issues: 96% of non-agricultural, non-government employees work inside the informal sector, and also 53% of work opportunities are classed because vulnerable. In supplement, some of the Millennium Development Aims (MDGs) set for 2015 seem difficult to succeed in, especially the health and fitness goals. Significant advance was however achieved in education, having access to safe drinking water, sanitation and girl or boy equality.
The country’s participation in global importance chains (GVCs) is hindered by various obstacles, including the quality of infrastructure and the limited value included of exported natural resources. The priority for your authorities is to eliminate these constraints and implement a genuine innovation policy to help diversify the financial system.