2024-08-29 22:05:06
In Gabon, the Institutional Transition and Recovery Commission (CTRI) announced socioeconomic measures during the year to address the high cost of living – payment of pension arrears, price controls, etc. However, the country is struggling to raise funds due to crowded regional markets and reluctance in international markets. As a result, socioeconomic policies are ambitious but have a limited budget framework.
Nearly 40 percent of the population is facing unemployment and rising poverty, two of the biggest problems left by the Bongo administration. Today, the government is trying to revive the economy. As a result, CTRI has created budget positions in the military, health and education sectors. », explains Professor Gabriel Zomo Yebe, Chairman of the Economic Committee of the Inclusive National Dialogue.
« The government is clearly aware that it is not the civil service that can absorb all the unemployed. We must encourage young Gabonese to take action. Other measures will follow. It is clear that unemployment can only be eliminated in the medium term. », he continued.
Mismanagement, private looting of national wealth: Gabriel Zomo Yebe assured that the transformation has taken equity investment in big companies to put an end to bad practices. The measures we must take include: Stop during the Inclusive National Dialogueparts of our economy are being reallocated. Reallocation does not mean nationalization He insisted. This is because we still need to control a small part of the economy. Priority is given to on-site companies, domestic companies. »
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« Gabon is under construction »
Major engineering policies have also been affirmed, including the construction or renovation of various infrastructures. All Gabon Under construction, The economics professor was delighted. At least, we have restored the confidence of the Gabonese first, and we will restore the confidence of everyone. » Restoring investor confidence is undoubtedly Gabon’s biggest challenge.
Its debt may reach nearly 79 According to the International Monetary Fund, by 2025 it will reach %. The country has failed to repay several installments and its rating has been downgraded. Against this backdrop, borrowing on international financial markets has become difficult. “ There is a report from Financial Market Information This is indicative of Gabon’s budget consolidation. The executive made a series of short-term promises that would change people’s lives, a series of investment announcements in the oil sector, », explains Cédrick Jiongo, Central Africa expert at Sika Finance.
prove” originality »
« I think he must focus more on the long term rather than the short term. Let it start the process of diversifying its economy. Besides that, I believe Gabon has a huge natural potential, which it often relies on to raise debt. I’m talking about green bonds », Cédrick Jiongo designated. According to analysts: It’s also leverage he can use to refinance a loan that matures next year. », the analyst reads. And concludes that Gabon must prove that “ A lot of originality ».
Eager to demonstrate its goodwill in terms of transparency— The Bretton Woods institutions – CTRI disclosed its forestry, mining and petroleum contracts in early August.
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