Acronyms and Abbreviations
| BEAC | Bank of Central African States |
|---|---|
| CEMAC | Economic and Monetary Community of Central Africa |
| CT | Corporate Taxes |
| DGC | Directorate General of Customs |
| DP | Division of Forecasts |
| GDP | Gross Domestic Product |
| HPSF | Hydrocarbon Prices Stabilization Fund |
| IMF | International Monetary Fund |
| Lb | English Pound |
| MINFI | Ministry of Finance |
| NHC | National Hydrocarbons Corporation |
| NPG | Net Position of the Government |
| OECD | Organisation for Economic Co-operation and Development |
| STPP | Special Tax on the Sale of Petroleum Products |
| VAT | Value Added Tax |
Overview
International economic environment
Economic growth
In the third quarter of 2023, global economic activity continued to be affected by the effects of the Russian-Ukrainian conflict.
In the group of advanced economies, and according to the OECD, economic growth accelerated to 0.6% from 0.4%. This acceleration was mainly driven by the United States, where growth stood at 1.2% after 0.5% in the second quarter. On the other hand, there was a deceleration in the eurozone (growth of 0.1% after 0.2%) and in the United Kingdom (0.0% after 0.2%) and a decline in Japan (-0.7% against 0.9% in the second quarter).
In emerging and developing countries, economic growth accelerated in China (+1.3% after +0.5% in the second quarter) but slowed in Turkey (+0.3% after +3.3%), Brazil (0.1% after 1.0%), India (+1.7% after +1.8%) and Indonesia (+0.9% after +0.8%).
With regard to sub-Saharan Africa in particular, GDP declined in South Africa (-0.2% compared with 0.5%) and grew by 2.54% in the third quarter after 2.51% in Nigeria.
Over the year as a whole and according to the IMF (October 2023), global economic growth is expected to slow from 3.5% in 2022 to 3.0% in 2023. This slowdown affects advanced economies as well as emerging and developing economies.
In the group of advanced economies, the economic growth rate is estimated at 1.5% after 2.6% in 2022. Following the group's main economies, growth would stand at: 2.1% as in 2022 in the United States; 0.7% after 3.3% in 2022 in the eurozone; 0.5% after 4.1% in the United Kingdom; 2.0% after 1.0% in Japan.
In the group of emerging and developing countries, growth is estimated at 4.0% in 2023 after 4.1% in 2022. In particular, it is expected to stand at 5.0% in 2023 after 3.0% in 2022 in China and 6.3% after 7.2% in India. In sub-Saharan Africa, growth is expected to be 3.3% after 4.0% in 2022; with rates of 2.9% in 2023 after 3.3% in 2022 in Nigeria and 0.9% after 1.9% in South Africa and 2.5% after 3.3% in CEMAC.