TAG: Africa
After sustained GDP expansion over the last decade, reaching into the double digits, the Ghanaian economy has slowed recently due to a drop in export revenues, a depreciating currency and a widened fiscal deficit. However, the new government’s aggressively pro-business agenda and the country’s fundamentals – a developed private sector, political stability, transparent regulatory frameworks and a wealth of natural resources remain attractive.
Hydrocarbons remain the mainstay of Algeria’s economy, although following the drop in oil prices since mid-2014, the government is hastening efforts to encourage investment in other sectors, with a particular focus on industry and agriculture. While foreign reserve and government debt levels are under pressure, both appear set to remain reasonably comfortable over the near future.
Gabon’s economy has reached a critical juncture in 2016, with the drop in global oil prices having increased the need for and urgency of economic diversification, while reducing the availability of public financing to back the transformation. Under the now seven-year-old economic strategy, the Emerging Gabon Strategic Plan, the government has hastened efforts to expand the scope of economic activity, focusing on financial services, tourism and agriculture.