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10/05/2012
Emerging Gabon
An increase in Gabon’s budget for 2013
At the meeting of the Council of Ministers on 4 October, the bill fixing the budget for 2013 was adopted. It amounts to 3,141.2 billion CFA francs, compared to 2,759.58 in 2012. This increase is an illustration of the government’s determination to stimulate the country’s growth.

 

The new finance bill was adopted, fixing the 2013 budget. To the great satisfaction of all the Ministers present at the meeting: “This new finance bill is part of the movement towards implementing the Strategic Plan for an Emerging Gabon (SPEG) which is an expression of President Ali Bongo Ondimba’s will to accelerate the transformation of the country’s economy in order to boost growth, reinforce the social sector and turn Gabon into an emerging country by 2025.”

 

The new budget, which amounts to 3,141.2 billion CFA francs, takes into account the country’s own resources as well as borrowings. Own resources are estimated at 2,632.5 billion CFA francs, including 1,442.4 billion from oil revenue and 1,190.1 billion from revenue excluding oil. Resources from borrowing amount to 508.7 billion CFA francs.

 

On the expenditure side, operating costs stand at 1,339.7 billion CFA francs while investment expense amounts to 1,068.5 billion CFA francs. The cost of the public debt is estimated at 508.59 billion CFA francs and loans-advances and deposits at 224.4 billion.

 

As a reminder, in 2012, Gabon’s budget was initially 2,453.1 billion CFA. However, an amended finance bill on 20 September took the total up to 2,759.58 billion. This new budget, in any case, emphasises the President’s desire to press on with the transformation of the country. 

 
 
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