Download Resources

Scroll down to view the full list of downloads available on this article.

Real gross domestic product (GDP) growth in 2015 was 3.9%, against 3.8% in 2014, driven mostly by agriculture, especially vegetable production, and by a noticeable rebound in oil and gas activity in Q4 of 2015. Against a background of falling global oil prices since June 2014, this rebound followed nine consecutive years of decline. This should be an opportunity to speed up reforms aimed at diversifying the economy and its structural transformation. Real GDP growth should reach 3.4% and 3.0% in 2016 and 2017 respectively.

Rising prices of food and manufactured goods pushed up inflation, which had declined for two consecutive years, to 4.8% in 2015. The price hikes were due to problems in the distribution channels, especially for fresh agricultural produce and industrial foodstuffs.

The economic situation is mostly dominated by the drastic fall in oil prices and its effects on the country’s external position, as well as on public accounts. For the first time in 16 years, in 2015 the trade balance was negative (-9% of GDP) because imports (31% of GDP) were not covered by exports (21% of GDP), resulting in lower official foreign-exchange reserves.

Public accounts have been affected by erosion in the resources of the revenue-stabilisation fund (Fonds de regulation des recettes) from the notable fall in oil-taxation receipts, down from 20% to 13% of GDP between 2014 and 2015. With total revenues falling (27% of GDP in 2015 versus 33% in 2014) and fiscal expenditure still high (43% of GDP in 2015 and 2014), the overall deficit grew to 16% of GDP in 2015 from 8.3% in 2014.

Regional planning has systematically included “urban” and “sustainability” as concepts in the regulations and development plans for the three major zones: Littoral, High Plateaux and Sahara. In 2015, more than 70% of the country’s population of 40 million lived in urban areas.

Source: 2016 African Economic Outlook

Resources will be added soon.

While tralac endeavours to list current legal instruments, we cannot accept responsibility or liability for any inaccuracies or omissions. The negotiation, ratification, implementation and/or modification of these instruments is an ongoing process and not always well-reported or updated by the relevant authorities. All documents are in English unless stated otherwise.

Membership (registration) to this site provides you with full access to all our regional and national resources. Your secured profile information provides us with crucial analytical data and will be used for monitoring purposes only. By registering to access these resources, you agree to abide by tralac’s Terms and Conditions.