Public Management

Sao Tome & Principe : 90% of 2019 budget to be funded by foreign aid (government)

Wednesday, 06 March 2019 16:13
Sao Tome & Principe : 90% of 2019 budget to be funded by foreign aid (government)

(Ecofin Agency) - In Sao Tome & Principe, 90% of the 2019 budget will be funded thanks to foreign aid, Jorge Bom Jesus (photo), the country’s prime minister informed yesterday.  

According to information published by the country, its 2019 budget is $150 million but only 10% should be funded by public revenues.

76% of the needed funds should be provided as bilateral grants while 24% should be collected from international institutions.

23% of the budget should be dedicated to infrastructure projects followed by health projects (16%), education (15%), agriculture and fishing (12%).

For 2019, the country forecasts 5% growth, higher than the 4.5% estimated by the IMF.

Moutiou Adjibi Nourou  

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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