Gabon’s public debt was estimated at CFAF 4,772 billion in the first quarter of 2018, which represents 52.4% of national GDP.
“In our projections, we will be able to reach a level of about 40% of GDP in three years,” said Hugues Mbadinga Madiya, the general director of the debt quoted by New Gabon.
“The decline in budgetary resources has generated significant cash flow difficulties. In recent years, therefore, there has been a problem of liquidity of the debt. This often translates into an accumulation of arrears, “he said, adding that the rapid upward trend in the debt ratio can be explained, among other things, by the mechanical decline in recorded GDP. to the oil crisis.
In the first half of 2017, the debt-to-GDP ratio stood at 26%, from CFAF 3,259 billion to CFAF 4,110 billion in the space of one year. The level of the debt itself was estimated at 4,807 at the end of 2017.
Gabon aims to reduce its debt to 40% of GDP by 2021. An audit of the public debt is announced next September.
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