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Chad : Economy still under pressure despite price rebound in the oil sector in 2018 (IMF)

Wednesday, 03 April 2019 15:26
Chad : Economy still under pressure despite price rebound in the oil sector in 2018 (IMF)

(Ecofin Agency) - In Chad, the economy is still vulnerable despite the recovery of the oil sector in 2018, the IMF indicated at the end of a mission carried out in the country last month.

According to the institution, the economy is still exposed to numerous pressures despite the various reforms initiated by the government. For instance, despite a recovery in the oil sector in 2018, the non-oil sector rose by only 0.5% (and revenues from that sector dropped year on year) exposing the country to swings in oil prices.

Economic recovery continues to be held back by the domestic debt overhang and underlying structural fragilities,” said Said Bakhache who led the mission.

The inflation rate rose by 4% (well above the 3% standard within CEMAC) because of a 90% rise in the prices of water.

Nevertheless, the institution forecasts strong growth for the country and invites authorities to develop the non-oil sector. This year, the economy is expected to grow by 3.6%.

Moutiou Adjibi Nourou

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