Gabon Aims for 10% Growth by 2030, Despite Current Debt Load of 73.4% of GDP
Gabon’s economy grew by 3.1% in 2024, despite facing a debt load equivalent to 73.4% of its GDP. According to the African Development Bank’s (AfDB) 2025 Country Report, Gabon must raise approximately $1.18 billion annually to drive structural transformation and achieve the status of top developing countries by 2030.
A substantial portion of this funding—72.2%—is earmarked for infrastructure development. The energy sector requires 12%, while education will need 11.1% of the total funds. However, Gabon’s ability to mobilize domestic resources remains weak, with the country having met only 14.6% of its annual financing needs, leaving a gap of nearly $1 billion.
The AfDB warns that Gabon must increase its tax revenue by 4.5 percentage points—from the current 11.9% of GDP to about 16.4%—in order to bridge this financing gap through fiscal measures. Gabon’s tax revenue is considerably lower than that of its neighbors, such as Namibia (30.5%), South Africa (24.9%), and Botswana (22.9%).
In response to these challenges, the Gabonese government has introduced a National Growth and Development Plan (PNCD) for the period 2026 to 2030, valued at CFA10,000 billion ($17.7 billion). Henri Claude Oyima, Gabon’s Minister for the Economy and Finance, emphasized, “A growth rate of 2 or 3% is no longer sufficient to meet our needs, considering population growth, inflation, and social demands. Our clear objective is to achieve 10% growth in the medium term.”
To fund this ambitious plan, Gabon intends to utilize public-private partnerships (PPPs), issue sovereign bonds, and access green and climate financing. The government aims to leverage the country’s solid credit reputation to attract investors and lenders.
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