{"id":472031,"date":"2021-06-14T10:11:20","date_gmt":"2021-06-14T10:11:20","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=472031"},"modified":"2021-06-14T10:11:20","modified_gmt":"2021-06-14T10:11:20","slug":"gabon-increase-in-the-state-budget-in-response-to-covid-19","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/06\/14\/gabon-increase-in-the-state-budget-in-response-to-covid-19\/","title":{"rendered":"Gabon: increase in the state budget in response to Covid-19"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The 2021 Amending Finance Bill (PLFR), reviewed by the Minister&#8217;s Council, is based on an increase in the state budget in order to deal with the health crisis linked to the coronavirus. The budget adopted on June 10 rises from CFAF 2,681 to 3,043 billion ($ 5.5 billion), an increase of 362 billion. Funding primarily intended for the implementation of the Transformation Acceleration Plan (PAT) and the response to Covid-19.<\/p>\n<p>The additional envelope explained the government is &#8220;mainly attributable to the issuance of government securities amounting to 495 billion CFA francs on the international financial market&#8221;. In addition to the realization of the PAT and the fight against the coronavirus, \u201cthe preparation of this bill is justified by the need to integrate the reforms contained in the agreement concluded with the IMF under the extended credit mechanism &#8220;.<\/p>\n<p>In a difficult economic environment, the amended bill targets the resumption of growth, with a rate projected at 1.5% against in 2021 against -1.8% in 2020. Likewise, the authorities plan to reduce the budget deficit. from -7.4% to -7.2% of GDP (gross domestic product) excluding oil in order to contain the level of indebtedness.<\/p>\n<p>To achieve this, Gabon relies on several assumptions, including rising commodity prices on the international market. Despite a production of 10.2 million metric tons in 2021, down 3.12% compared to the previous finance law, the price of a barrel of oil stands at 55 dollars, up 34.15% compared to the initial finance law.<\/p>\n<p>In addition to oil, which constitutes more than 80% of the country&#8217;s resources, the non-oil sector is also used to boost growth, in this case, exports of manganese and timber, where Gabon derives significant income.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The 2021 Amending Finance Bill (PLFR), reviewed by the Minister&#8217;s Council, is based on an increase in the state budget in order to deal with the health crisis linked to the coronavirus. The budget adopted on June 10 rises from CFAF 2,681 to 3,043 billion ($ 5.5 billion), an increase of 362 billion. Funding primarily<\/p>\n","protected":false},"author":536282,"featured_media":472032,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[11996,12046],"tags":[16344,290,16968,18868],"class_list":{"0":"post-472031","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-finance-en","8":"category-leaders-en","9":"tag-covid-19","10":"tag-gabon","11":"tag-increase","12":"tag-the-state-budget","13":"post_format-post-format-aside","14":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gabon: increase in the state budget in response to Covid-19 - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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