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MINISTRY OF ECONOMY
| A COUNTRY IN EXPANSION |
Endowed with diverse natural resources, the Equatorial Guinea has slowed down the economic development process. Nowadays the situation is changing. The head of state, president of the republic, Obiang Nguema MBASOGO has reiterated and emphasized on the national economy freedom since 1996. the country is actually a place of intensive economic activities because foreigners are coming to enjoy diverse natural resources. We can effectively noticed the contribution of petroleum to the national economy that produces more than 200 million per annum
The money gained from petroleum exploitation within the territory has revamped effectively the economic activities of the country, to the extend that jobs have been created as well as wages increased. And also inevitably, this pushes up the spur up of cities, many more investors and business men in the country.
We could also notice that even though timber exploitation is seconded by the petroleum output, it also constitutes or yields important revenues to the state. We can notice that more than 400 millions cfa francs derive from forestry products and this rector employs half the population dealing with private formal economy sector. With the incessant support from the Spanish and European union, the Government revamps the farming of cocoa and other resources of the nation. Here the subject of the matter is to bring to citizens the necessary expertise for managing the complex nature of cocoa production in Equatorial Guinea. Shipping is also enviable and covers more than 800 000 km˛ it yields 80 000 tons fish stuffs and 1 000 crustaceans per annum.
Tourism is today an important asset in Equatorial Guinea, it provides to the country important resource that make the Nation the place to be and where business is prospective.
© Copyright, Equatorial Guinea April 2002
