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Gabon: 2018 amended budget up by 3.7%

The Gabonese government adopted on Thursday the amended budget for the 2018 fiscal year, which increases the national budget from 2673.8 billion CFA francs to 2773.2 billion CFA francs, a slight increase of 3.7 percent or 99.5 billion CFA francs.Set preliminarily at 1,842.6 billion CFA francs, revenue for the state budget stands at 1,948.9 billion CFA or an increase of 106.3 billion CFA.

Budgetary expenditure amounts to 1981.2 billion CFA against 2017.7 billion CFA or a decrease of 36.5 billion CFA, reflecting the choices made in terms of optimizing spending and the ability to mobilize resources over the rest of the year.

However, debt charges envisaged at 239.1 billion CFA, in the initial budget, would be readjusted to 237.8 billion CFA in the 2018 budget, representing a decrease of 1.3 billion CFA.

Operating expenditures, including those of the Trust Accounts, reportedly amount to 1345.8 billion CFA against 1323.2 billion CFA in the original draft budget. They include expenditure on staff, goods, services, transfers and other expenses.

Staff expenditures, initially estimated at 709.8 billion CFA, reportedly decreased to 640.9 billion CFA, in the 2018 budget.

This 2018 budget increase is due to a rise in the price of a barrel of oil on the international market.

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