Republic of Equatorial Guinea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Director for the Republic of Equatorial Guinea

November 16, 2016

Preview Citation

Format: Chicago

Republic of Equatorial Guinea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Director for the Republic of Equatorial Guinea, (USA: International Monetary Fund, 2016) accessed September 19, 2024

Also available in: español

Summary

This 2016 Article IV Consultation highlights that Equatorial Guinea’s overall real GDP growth has been weak in recent years averaging –0.5 percent from 2010–14, largely owing to a trend decline of the dominant hydrocarbon sector. Economic performance deteriorated substantially in the wake of the 2014 oil-price shock. In 2015, the pace of the contraction intensified, and economic activity declined by 7.4 percent. The near-term outlook is very challenging, given prospects for depressed energy prices and a continued decline in hydrocarbon production. Weak oil revenues and limited buffers will require further cuts to public investment, leading to a deep contraction of the large construction sector and public administration.

Subject: Balance of payments statistics, Economic and financial statistics, Expenditure, Fiscal consolidation, Fiscal policy, Public debt, Revenue administration

Keywords: A number of IMF policy recommendation, Balance of payments statistics, Balance of payments statistics mission, CR, Deficit, Equatorial Guinea's debt, Fiscal consolidation, GDP, Global, Holding, IMF staff estimate, ISCR, Oil-price shock, Sub-Saharan Africa

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/341
Stock No:

1GNQEA2016001
ISBN:

9781475551372
ISSN:

1934-7685

Notes

Also Available in Spanish

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