Gabon’s state expenditure totaled CFA 1,119.4 billion in 2018 against CFA 945.8 billion in 2017.
This signifies an increase of CFA 173 billion in absolute terms and 15 percent in relative terms, according to a budget execution report from the Ministry of Economy seen by APA on Wednesday.
The 2018 Finance Act in terms of revenue and expenditure was set at CFA2,700 billion and was implemented by 57 percent.
The budget gave priority to staff costs (CFA525.1 billion) and debt financial charges (CFA154.6 billion).
Expenditure on goods and services exceeded CFA130 billion, while investment expenditure barely exceeded CFA169 billion.
The CFA173 billion increase in public spending is sufficient proof that the reduction in the state’s standard of living - an IMF injunction expressed through the Economic Recovery Plan (ERP) - is not yet effective.