Equatorial Guinea expects real economic growth of 3.2% over the medium term. Driven by both the oil and non-oil sectors, this growth is expected to support the economic recovery and enable the country to gradually emerge from the current crisis by 2028.
Equatorial Guinea’s authorities are presenting a more optimistic economic outlook. The Ministry of Finance, Budget and National Planning forecasts real growth of 3.2% in its medium-term macroeconomic projections.
These forecasts were reviewed during a meeting of the ministry’s Governing Council, which focused in particular on preparations for the 2027 State budget.
The projections point to a gradual recovery in economic activity and an exit from the current crisis by the end of 2028.
Oil Remains a Key Driver
According to the ministry’s projections, cited by media reports, the oil sector is expected to grow by 3.1%, while non-oil activity is projected to expand at a slightly faster rate of 3.3%.
This improvement is expected to be supported by oil production as well as by the continuation of structural reforms undertaken by the authorities.
The government is also counting on stable inflation and foreign exchange reserves at the subregional level to strengthen the country’s economic outlook.
A Recovery Still Dependent on Reforms
Through these projections, Malabo aims to gradually return to a path of economic growth after a difficult period.
However, economic diversification and the development of the non-oil sector remain major challenges in ensuring a sustainable recovery.
The stated objective is to strengthen the economy’s fundamentals while reducing its vulnerability to fluctuations in oil-sector activity.
With growth projected at 3.2%, Equatorial Guinea is therefore banking on a recovery in production, continued reforms and macroeconomic stability to gradually emerge from the crisis by the end of 2028.