As the government continues to implement its strategic plan, Stratégique Gabon Emergent (PSGE), geared at promoting economic diversification and inclusive growth, real GDP growth has averaged about 6 percent in the last four years driven by a substantial scaling-up of capital spending. The external current account has been in surplus, while inflation has remained at a low single digit.

Despite sustained high oil prices until recently, the coastal country’s fiscal situation has come under pressures and arrears have accumulated partly as a result of the upgrade in public investment.

Like many other African states, its medium-term growth outlook has weakened as a result of the sudden decline in oil prices, however, this is expected to remain relatively strong as economic growth will likely be driven by a number of ongoing projects in the agro-allied, mining, and wood processing industries.

Arsene Rebouka