Budget 2024: Gabon’s main macroeconomic assumptions

by time news

2023-12-07 11:15:15

DIG/ According to the Council of Ministers of December 6, 2023, the main assumptions on which the 2024 macroeconomic and budgetary framework is based are determined as follows:

▪ oil production at 80.3 million barrels compared to 80.2 stopped in 2023;

▪ a price of a barrel of Gabonese oil at 72 dollars, down 4% compared to the 2023 finance law;

▪ manganese production at 10.0 million tonnes, down 7.5% compared to 2023 forecasts;

▪ a selling price of manganese at 176.5 dollars per tonne, an increase of 9.6%;

. production of sawn wood which should be at 1.35 million m3, down 20.3%;

▪ an exchange rate of the US dollar at 593.6 FCFA, down 0.1%.

As a reminder, the draft state budget for the year 2024 is balanced, in revenue and expenditure, to 4,162 billion FCFA against 3,602.3 billion FCFA, an increase of 559.7 billion FCFA.*

Goals

According to the transitional government, the main objectives pursued by the PLF 2024 concern:

– support for the development of economic activity, in particular through the relaunch of numerous suspended investment projects;

– the consolidation of social achievements, with the granting of numerous social aids;

– increased recruitment of public officials and regularization of administrative situations;

– optimization of revenues, through broadening the tax base and increased computerization;

– strengthening controls of counterparties linked to tax expenditures.

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