/ 21 January 1999

IVORIAN BUDGET CUT

THE Ivorian government on Thursday announced a reduction of nearly 90-billion CFA francs in its 1999 annual expenditure budget, citing the shortfall in prices of the country’s export earners. Nearly 75% of Cote d’Ivoire’s annual revenue comes from the exports of cocoa, coffee, pineapples, rubber and banana, which are all experiencing price slumps on the international market. A similar price slump caused a 79-billion-franc deficit in the country’s annual budget in 1998.