Africa: Gabon Economy to Grow 5.6% in 2012 as Budget Increases 3.5%

Gabon expects economic growth to accelerate to 5.6 percent in 2012 from 5 percent this year as the budget in the central west African country increases 3.5 percent. (Source: Info Plus Gabon)

The budget will reach 2,453.1 billion CFA francs ($5 billion) next year after 2,370.8 billion CFA in 2011, the Direction of Economy said in a press statement in the nation's capital Libreville yesterday.

The International Monetary Fund forecasts growth of 5.6 percent this year and 3.3 percent in 2012. Director General of Economy Hamidou Okabe told reporters he believes "the IMF figures don't include all investments Gabon has done."