BMI View: Oil production in the country is stagnating. Despite government efforts to increase revenues from the mining sector, BMI predicts that a combination of faltering production and relatively subdued oil prices will prevent government revenues from rising in the face of booming public expenditure. We expect Gabon’s fiscal position to steadily decline, with the deficit expanding to 2.8% of GDP in 2018 – posing a high risk to public expenditure on improving access to healthcare services. Headline Expenditure Forecasts ? Pharmaceuticals: XAF67.65bn (US$136mn) in 2012 to XAF71.85bn (US$147mn) in 2013; +6.2% in local currency and +8.1% in US dollar …
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