Guinea: Recent Economic Developments
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Summary:
This paper reviews economic developments in Guinea during 1990–98. Economic developments were dominated by the coming on stream of important oil fields in 1992 and 1996, and the subsequent breakdown in fiscal discipline and transparency. In response to the January 1994 devaluation of the CFA franc, there was also an upturn in the non-oil sector, led by intensification in logging activity that resulted in an unsustainable level of timber output in 1997. Real GDP growth averaged 8.5 percent a year in 1992–95, and rose to 29 percent in 1996.
Series:
Country Report No. 1999/113
Subject:
Agroindustries Commodities Economic sectors Exports International trade Oil Oil production Oil, gas and mining taxes Production Taxes
English
Publication Date:
October 20, 1999
ISBN/ISSN:
9781451815917/1934-7685
Stock No:
1GNQEA0011999
Pages:
84
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