FANDOM


Country summary

Capital

Porto-Novo (official capital)

Borders

Burkina Faso 306 km, Niger 266 km, Nigeria 773 km, Togo 644 km

Government type

republic

Population

8,791,832[1]

Population growth

2.977% (2010 est.)[1]

Life expectancy

59 years[1]

Unemployment

NA% est.)[1]

Index of Economic Freedom

115[2]

Corruption Perceptions Index

106[3]

Doing Business ranking

172[4]


Present day Benin was the site of Dahomey, a prominent West African kingdom that rose in the 15th century. The territory became a French Colony in 1872 and achieved independence on 1 August 1960, as the Republic of Benin. A succession of military governments ended in 1972 with the rise to power of Mathieu KEREKOU and the establishment of a government based on Marxist-Leninist principles. A move to representative government began in 1989. Two years later, free elections ushered in former Prime Minister Nicephore SOGLO as president, marking the first successful transfer of power in Africa from a dictatorship to a democracy. KEREKOU was returned to power by elections held in 1996 and 2001, though some irregularities were alleged. KEREKOU stepped down at the end of his second term in 2006 and was succeeded by Thomas YAYI Boni, a political outsider and independent. YAYI has begun a high profile fight against corruption and has strongly promoted accelerating Benin's economic growth.[1]

Economical characteristicsEdit

  • Currency: West African CFA franc (ISO code: XOF)
  • Central bank discount rate: 4.75% (31 December 2008)[1]
  • Commercial banks lending rate: NA%[1]
  • Stock of money (M1): $1.592 billion (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $742.8 million (31 December 2008)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[5] 2 387 2 255 2 372 2 807 3 558 4 047 4 287 4 735 5 546 6 680
Govt. debt (% of GDP)[6]
Govt. revenue (% of GDP)[7] 16.469 16.673 16.640 17.241 16.405 16.836 18.601
Govt. expenses (% of GDP)[8] 11.850 11.754 13.194 12.625 13.546 13.545 14.927
Debt to revenue (years)

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Benin", from The World Facebook. Referenced 2010-10-01.
  2. Heritage Foundation. "Benin", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  3. Transparency International. "Benin", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-10-01.
  4. Doing Business. "Benin", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  5. World Bank. "Benin: GDP", from World Bank Data. Referenced 2010-10-01.
  6. World Bank. "Benin: government debt", from World Bank Data. Referenced 2010-10-01.
  7. World Bank. "Benin: government revenue", from World Bank Data. Referenced 2010-10-01.
  8. World Bank. "Benin: government expenses", from World Bank Data. Referenced 2010-10-01.

External linksEdit

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