Gabon | Prioritizing spend in an election year — Bank of America Merrill Lynch
Libreville, Gabon, Capital Markets in Africa —The Gabonese government is taking steps to mitigate the effect of lower oil prices (oil makes up 40% of revenues) by re-prioritizing its development plans. A supplementary budget is expected to be released in the summer, which will detail where spending can be cut with minimal social and growth impacts. The government is using US$30/bbl in the budget (compared to US$42 previously) and expects GDP growth of 3.2% and…
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