Growth should be around zero in 2020, very far from the 3.8% expected by the government. The coronavirus crisis has gone through this. Highly hoped for in 2020, the increase in growth will not take place.
Estimated at 3.4% in 2019 after a lackluster year in 2018 (0.8%), growth will not match the government’s outlook this year. A disappointment related to the coronavirus crisis, the Prime Minister of Gabon said on April 27 in Libreville.
“While our country should resume growth of around 3.8% this year at the cost of painful sacrifices and courageous reforms, this crisis will wipe out all of our previous efforts and induce real growth close to zero”, regretted Julien Nkoghé Békalé.
Hence, the need for an economic response plan, supported by technical and financial partners in Gabon, this plan will aim to “prevent our economy from going into recession and ensure a soft landing in 2020,” the Head of government said. According to Nkoghé Békalé, it is also a question of “preparing our economy to seize the windows of opportunity which will be left by other countries more affected by this crisis and to start a resumption of sustained growth from 2021”. Before the coronavirus crisis, the African Development Bank (AfDB) forecasted real growth of 3.7% in 2020 in Gabon, then 3.6% in 2021, driven by a revival of activities in the non-oil sector which would counterbalance a decline in the essential sector of the national economy.
