Since the launch of the Emerging Gabon plan in 2009, the country has unveiled a number of measures to try to reduce its dependency on its flagship hydrocarbons sector – a process that has become all the more urgent as oil prices have fallen.
Since the launch of the Emerging Gabon plan in 2009, the country has unveiled a number of measures to try to reduce its dependency on its flagship hydrocarbons sector – a process that has become all the more urgent as oil prices have fallen.
Even amid a drop in the price of oil, the country’s chief export, Gabon has seen stable growth over the past five years, aided in part by a large government spending campaign that has sought to encourage greater diversification. According to the World Bank’s 2015 “Doing Business” report, the country has maintained its edge as the most attractive...
A sharp drop in the price of oil has prompted Gabon to revise its expenditure plans. In light of decreasing revenues from its major export earner, authorities have started to take action. In early 2015, faced with oil prices of under $50 per barrel, the government organised a seminar to discuss the issue, announcing that a revision of the budget...
Although it remains deeply influenced by its historical ties to Europe, Gabon has strived in recent years to broaden its economic and diplomatic partners. France remains one of the country’s closest trading partners and also one of its largest investors. With several emerging economic powers from elsewhere in Asia and Africa playing a bigger...
While the Economic Community of Central African States (Communauté Économique et Monétaire de l’Afrique Centrale, CEMAC) has a functioning monetary union as well as a range of regional financial institutions and bloc-wide economic policies in place, progress towards greater economic integration has faced a number of significant challenges....
Situated on Africa’s Gulf of Guinea and bordered by a host of low- and lower-middle-income economies, Gabon is part of a select grouping of upper-middle-income countries in sub-Saharan Africa. This is in large part due to it being endowed with substantial natural resources, including oil, metal and mineral reserves, alongside fertile soil and a...
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