Guinea: Recent Economic Developments

International Monetary Fund

No 1996/148, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Guinea during 1990–95. In 1995, expectations arising from the new discoveries of sizable oil reserves and double-digit growth in the non-oil economy—led by the timber industry—dominated economic developments. However, the fiscal position was again expansionary, as the fiscal deficit grew to 5 percent of GDP, exacerbating imbalances and adding to external payments arrears. Total budgetary revenue as a share of GDP fell and noninterest expenditure increased sharply including unclassified spending on the order of 3 percent of GDP.

Keywords: ISCR; CR; government; CFA franc; enterprise; oil revenue; primary sector; Guinean authorities; incentive effect; capital expenditure; equatorial Guinean authorities; production base; government unit; price level; production capacity; Investissement-Equatorial Guinea; Equatorial guinea growth; Oil; Agroindustries; Oil sector; Exports; Agricultural commodities; East Asia (search for similar items in EconPapers)
Pages: 85
Date: 1997-01-23
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