Gabon has released 407 billion CFA francs for economic, social and macroeconomic resilience measures, in order to support the impacts linked to the Coronavirus crisis. More than two-thirds of this amount is absorbed by the economic sector, with 308 billion injected to preserve the production tool.
Resilience for the revival of our economy and the preservation of our social model. This is how the Ministry of Economy and Finance presents the efforts made by the government to support the impacts of the Coronavirus crisis. Gabon has therefore granted an envelope of 407 billion CFA francs for economic, social and macroeconomic resilience measures.
Supervised by the Coronavirus monitoring and response plan steering committee, these measures have several objectives. It is about strengthening the health system; strengthening social protection of populations; macroeconomic and financial stability to support the private sector and maintain jobs; supply of hydrocarbons and pharmaceuticals and basic necessities.
In detail, the health sector benefited from an envelope of 64 billion CFA francs, including 2.1 billion for the special fund dedicated to the financing of the user fee of Gabonese economically weak (GEF). With regard to social issues, 33 billion CFA francs were mobilized over three months, including 2.3 billion for water and 5 billion for electricity; 1.25 billion for support to smallholders; 5 billion for food aid.
In terms of economic measures, 225 billion CFA francs were injected into the cash assistance of companies in difficulty, while 83 billion were spent on remitting taxes. Or, an amount of 308 billion CFA francs, representing more than two thirds of the envelope for resilience measures
