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Benin (formerly Dahomey), Economy

Economic Community of West African States, national budget, poorest countries, private enterprises, colonial times

Benin, one of the poorest countries in Africa, has an economy dependent, as in colonial times, on agriculture. Many private enterprises were nationalized in the 1970s, but worsening economic conditions forced the government to sell most of them in the late 1980s and early 1990s. The national budget in 1993 anticipated $272 million in revenues and $375 million in spending. In 2000 the gross domestic product (GDP), which measures the total value of goods and services produced in the country, was $2.2 billion, or $350 a person. Benin is a member of the Economic Community of West African States, an organization designed to promote economic cooperation and development.

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Article key phrases:

Economic Community of West African States, national budget, poorest countries, private enterprises, colonial times, GDP, gross domestic product, economic cooperation, Benin, spending, economic conditions, agriculture, revenues, government, country, person, member, development, organization, services

 
 

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