Gabon
Gabon’s small population provides for stability, but recent political dramas may have a negative impact on the business environment (especially through an unstable organised labour space). Lower oil rents have forced the government to cut fiscal spending and speed up diversification.
Economic growth is forecast to rise to 2.6% this year on the back of higher domestic oil output, while strong production figures for manganese and timber further support the growth upturn. However, slowing global demand for key export commodities and the continuation of the government’s fiscal consolidation programme will somewhat soften the pace of the growth recovery this year. On the political front, uncertainty surrounding President Ali Bongo’s health and ability to rule has resulted in a power struggle within the Gabonese Democratic Party (PDG). Developments in the PDG will be the most important ones to watch going forward. (Source: Gabon Quarterly Update, published September 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
1.5 |
|
Consumer Price Index (% change y-o-y, avg) |
4.7 |
|
Current Account Balance (as a % of GDP) |
-1.7 |
|
Real GDP (annual % change) |
1.2 |
|
GDP per Capita, US$ |
8,047.7 |
|
Import Cover (months) |
2.9 |
|
Population, million |
2.1 |
| Total External Debt (as a % of GDP) |
39.2 |