THE AFRICAN CONTINENT: THE ROLE OF AGRICULTURE IN ENSURING THE ACCELERATION OF ECONOMIC GROWTH (ON THE EXAMPLE OF THE REPUBLIC OF BENIN)

Abstract

In the structure of the world's economies, different sectors have different degrees of importance. And if agriculture is one of the most important branches of any national economy, its weight in the economy of African countries is even greater: here agriculture is not only a source of food, employment and income for the bulk of the population, but it also provides promising opportunities for industrialization as a condition for improving living standards. The role of the agricultural sector in the growth of the economy of the Republic of Benin as a result of its development during the government reforms of 2016-2021 is studied in the article. The reasons and evidence of the enormous impact that the agricultural sector has on the national economy have been revealed. Based on the analysis of statistical data, it is shown that the commodity groups of the agricultural sector amount to a large share of Benin's exports (about 75% at the end of 2020). The main directions of reforms which have already been implemented and are still to be implemented by the Government of the Republic of Benin in 2016-2021 and in 2021-2026, respectively, which aim to increase productivity and overall economic efficiency in the agrarian sector, have been studied. Key achievements of the reform process in different sectors of agriculture have been illustrated. The extreme importance of maintaining positive trends in the transition to large-scale agricultural production, which will serve as the basis for industrial transformation and, as a consequence, create prerequisites for reducing poverty in the country and increasing its national security, has been emphasized. The reformatory experience of the Republic of Benin serves as an example that, despite the importance of foreign direct investment, in today's VUCA world it is important to ensure the food security and sustainability of the national economy. Undoubtedly, in the current complex geopolitical situation, this experience can be useful for Russia, where the agro-industrial complex is one of the largest sectors of the national economy, which plays a special role in the economic, social and political life of the country.

Keywords

agricultural country, agricultural sector, the Republic of Benin, economic reform, agriculture, export structure

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About the Authors

Codjo G. Nouchet – PhD student, Assistant Lecturer, Plehkanov Russian University of Economics, Moscow, Russia. E-mail: ngivray@yandex.ru. SPIN РИНЦ 9843-6526. ORCID 0000-0002-9214-3783
Natalia V. Zakharova – Doctor of Economics, Professor; Professor, PLEHKANOV Russian University of Economics, Moscow, Russia. E-mail: zakharova.nv@rea.ru. SPIN РИНЦ 5466-2630. ORCID 0000-0002-7675-5165

For citation

Nouchet C.G., Zakharova N.V. The African Continent: The Role of Agriculture in Ensuring the Acceleration of Economic Growth (On the Example of The Republic of Benin) // BENEFICIUM. 2022. Vol. 1(42). Pp. 85-91. (In Russ.). DOI: 10.34680/BENEFICIUM.2022.1(42).85-91