• Growth driven by reforms, mining income, improved tax administration

• S&P affirms B+ rating, revises outlook to positive

Guinea's public revenue rose 139% between 2020 and 2025, from 18,859 billion Guinean francs (about $2.16 billion) to 45,000 billion francs, Prime Minister Amadou Oury Bah said this week during his general policy address to the National Transitional Council (CNT).

“The modernization of financial administrations, the digitalization of procedures and the introduction of a unified administrative and payroll system have resulted in savings of more than 246 billion Guinean francs, strengthening budget discipline and macroeconomic credibility,” Bah said.

He added that a GDP rebasing exercise had increased the estimated size of the economy to more than 20,420.04 billion Guinean francs, up 51.2%.

The government has introduced several reforms in recent years to boost revenue. In 2025 alone, revenue rose 46%, according to ratings agency Standard & Poor’s, driven by mining receipts as well as reforms to tax and customs administration, tighter controls and fewer exemptions.

Public debt stood at 36% of GDP, with a contained budget deficit, underscoring the country’s fiscal position. Standard & Poor’s affirmed Guinea’s B+ rating and revised the outlook to positive from stable, which could boost investor confidence.

Growth prospects remain strong, with real GDP expected to expand by close to 10% annually between 2026 and 2029, supported by the ramp-up of the Simandou project, increased refining capacity and ongoing infrastructure projects.

Lydie Mobio