posted by www.equatorialguineaonline.com – January 13th, 2014
The IMF article is entitled, “The best economies in the world in 2013,” and Equatorial Guinea has earned the top spot in the section “largest increase in investment.” The estimate of total investment to GDP ratio rises to 61.3%, which ranks the country as the highest percentage of GDP devoted to investment, in line with the Government’s objectives in order to comply with the Horizon 2020 Plan.
As indicated by H.E. Obiang Nguema Mbasogo in his speech of the end of the year, “the socio-economic reality should be a reflection point, compared to the colonial and dictatorial past. Our biggest concern right now is to advise the people of Equatorial Guinea to act jointly as one, to support the economic development program Horizon 2020, assuming their role as an engine of development of our country.”
In view of 2014, as was stated by the Governor of the Bank of Central African States (BEAC) and Statutory President of the Monetary Policy Committee, Lucas Abaga Nchama, the prospects will be characterized by an improvement in the sub-regional economic conditions, thanks to the increased production of oil and non-oil sector activities.
Based on the data available in the monetary institution directed by Abaga Nchama, the economic growth will increase to 5.3% in 2014, compared to 2.6% of 2013, which is a very positive development for the economy of Guinea Equatorial.
In the other variables considered in the IMF study, Brunei is the country with the lowest public debt (2.4%), South Sudan with the fastest growth (24.7%), the United States is the largest economy (16,700 trillion dollars) and Luxembourg has the higher per capita income (110,573 dollars).