• Guinea adopts $7.3 billion budget for 2026, up 18.3%
• Plan targets growth, fiscal discipline and Simandou 2040 program
• Economy expanding but faces poverty and revenue challenges

Guinea’s National Transitional Council has adopted the country’s 2026 budget, set at 64,181 billion Guinean francs (about $7.3 billion), the Ministry of Economy and Finance said on Wednesday, April 1. The figure marks an 18.3% increase from the previous year.

The budget projects a fiscal deficit of 2.6%, alongside what the government describes as prudent debt management and tighter control of domestic debt.

“The adoption of this finance bill effectively marks the launch of the Simandou 2040 sustainable and responsible socio-economic development programme. To improve efficiency, eleven ministries have been selected to pilot programme-based budgeting,” said Mariama Ciré Sylla, Minister of Economy, Finance and Budget.

Total revenue is estimated at 55,858 billion Guinean francs, up 27.06% from the revised 2025 budget.

Guinea has recorded solid growth in recent years. Between 2019 and 2023, GDP grew at an average annual rate of 5.1%, according to the World Bank. Growth reached around 5.7% in 2024, driven by both mining and non-mining sectors. Inflation rose to 5.1% over the same period, partly due to a temporary fuel shortage following a depot explosion in December 2023.

Despite this momentum, major challenges remain, including a poverty rate affecting about 52% of the population and weak domestic resource mobilisation.

Through the Simandou 2040 programme, which underpins the 2026 budget, the government aims to sustainably transform the country’s growth drivers, strengthen economic diversification, improve living standards and enhance Guinea’s regional and international competitiveness.

Guinea is targeting growth of 9.5% in 2026. This projection is broadly in line with forecasts from Standard & Poor’s, which expects growth of close to 10% over 2026–2029, supported by the ramp-up of the Simandou integrated project, expanded refining capacity and major infrastructure investments.

Lydie Mobio