Analysis by Region - Emerging Markets - Central African Republic
Real GDP growth is projected to increase by 1.3% in 2024, following an estimated expansion of 0.9% in 2023. The gradual economic recovery is indicative of the government's efforts to reduce the country's wide twin deficits and implement structural reforms proposed by the IMF. The IMF approved a three-year Extended Credit Facility (ECF) programme for the CAR in April last year, and according to its latest review, "[the] CAR continues to make headway in stabilising its economy and in achieving fiscal consolidation." The Fund noted in its review that the effective implementation of reforms, particularly in the fuel market, will be key to addressing the numerous economic and social challenges that the authorities face amid fiscal limitations.
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