posted by www.equatorialguineaonline.com – November 7th, 2013
Malabo — For close to two decades now, oil money has been flowing into Equatorial Guinea’s economy, but hopes that poverty could soon be history have not been fulfilled. The country’s president rules with an iron hand.
Thanks to the discovery of the much prized “black gold” and natural gas, Equatorial Guinea is comfortably placed as the country with the highest Gross Domestic Product (GDP) in Africa.
In 2012, Equatorial Guinea’s GDP per capita income was estimated at $20,200 (14,900 euros), also a result of the discovery and exploitation of its oil and gas reserves and the economic growth that followed.