Prepared by Ivailo Izvorski with Christian H. Beddies.
The weight of foodstuffs in the domestic consumption basket is 58 percent, while that of clothing, textiles, and footwear is 1714 percent. Among the other major components, fuel and light account for 5.4 percent, and housing for 5.1 percent.
The difference between the (fixed) pump price and the (fluctuating) import price, inclusive of the dealer’s margin, duty, and sales tax.
The pump price of petrol (gasoline) was reduced from D 8.5 to D 7.75 per liter. The price of gas oil was lowered from D 6.5 to D 5.5 per liter, and that of kerosene from D 3.27 to D 2.3 per liter. The duty and sales tax on kerosene were abolished.
Includes lawyers, builders, accountants, engineers, architects, video hire, laundry and dry cleaners, recording studios, surveyors, hairdressers, and newspaper advertisements.
The public enterprises owed the government about D 97 million, while the government owed the public enterprises D 72 million.
As of January 1, 1999, the West African Economic and Monetary Union (WAEMU) countries impose a maximum tariff of 25 percent on final consumption goods, a maximum of 10 percent on intermediate goods, and a maximum of 5 percent on raw materials and intermediaries. The maximum tariff on final consumption goods would further be reduced to 20 percent from January 1, 2000. For more details, see The West African Economic and Monetary Union: Recent Developments and Policy Issues, Ernesto Hernández-Catá and others, Occasional Paper No. 170 (Washington: International Monetary Fund, Washington DC).