IMF Staff Country Reports

Guinea: Recent Economic Developments

Publication Date:

January 23, 1997

Summary:

This paper reviews economic developments in Guinea during 1990–95. In 1995, expectations arising from the new discoveries of sizable oil reserves and double-digit growth in the non-oil economy—led by the timber industry—dominated economic developments. However, the fiscal position was again expansionary, as the fiscal deficit grew to 5 percent of GDP, exacerbating imbalances and adding to external payments arrears. Total budgetary revenue as a share of GDP fell and noninterest expenditure increased sharply including unclassified spending on the order of 3 percent of GDP.

Series:

Country Report No. 1996/148

Subject:

Agricultural commodities Agroindustries Commodities Economic sectors Exports International trade Oil Oil sector Tariffs