The analysis published in the ICE Billeting, with the title “Equatorial Guinea: The Effort for Diversification” was prepared by Sergio Pérez Saiz, Director of the Economic and Commercial Office of Spain in Malabo, along with Ismael Castelos Maceiras and Francisco Merino Vila, and it offers a great amount of economic data on the present situation of Equatorial Guinea.
The article begins with the explanation of the present economic situation in Equatorial Guinea –the only Spanish ex-colony in Sub-Saharan Africa, and presently the only country in the world with the Hispanic language and culture outside of Ibero-America, from the economic growth that began in 1995, which remained at a rate of 38% in the period of 1995 and 2005. Throughout it, they analyze the future prospects in the context of the public investment effort financed with the revenues from gas and petroleum, which are over 80% of the gross added value, and it also lists the efforts made through investment in construction (civil works and building) by the authorities in order to lay the foundations of an obligated economic diversification, suggested by large international entities, such as the International Monetary Fund.
After a brief review of the bilateral commercial relations, the article ends with the main challenges for the country for the decade that has just begun, including several plans for the expansion of production, both in extraction and in processing and generation of added value, as is the case of electricity production.
www.guineaecuatorialpress.com, thanks to the collaboration of the people in charge at the Spanish Economic and Commercial Office in Malabo, offers the possibility of downloading here the ICE Bulletin 3001, with the article in question.
Equatorial Guinea’s Press and Information Office