April 20, 2017 / 9:20 AM / in a year

Ivory Coast to cut budget spending by 10 pct on low cocoa prices -president

ABIDJAN, April 20 (Reuters) - Ivory Coast has slashed its 2017 budget spending by 10 percent due to a sharp drop in world prices for cocoa, its primary export, President Alassane Ouattara said in comments reported by national media on Thursday.

The cuts exclude the salaries of civil servants, who went on strike this year over back pay and pension reforms. However, the West African nation’s ambitious investment budget will be reduced by 10 percent, or about 200 billion CFA francs ($320 million). (Reporting by Loucoumane Coulibaly; Writing by Joe Bavier; Editing by Louise Ireland)

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