51514
Gabon Cuts 2017 Budget Again
Gabon Cuts 2017 Budget Again

Gabon Cuts 2017 Budget Again

Gabon Cuts 2017 Budget Again

Gabon’s cabinet has cut its 2017 budget by over 5% as persistently low crude prices and falling output pressure the oil-producing Central African economy, it said in a statement on Thursday, Reuters reported. Next year’s budget will drop to 2.478 trillion CFA francs ($4.23 billion) in 2017 from 2.626 trillion CFA francs this year, the statement said, citing a drop in oil prices and production in the OPEC member. It comes after a small budget drop in 2016 and a 14% drop in 2015, both due to a steep drop in crude prices since 2014 and depleting oil fields.

 

Short URL : https://goo.gl/WTPCrh
  1. https://goo.gl/rtcfUf
  • https://goo.gl/mOqq4G
  • https://goo.gl/gvXiJv
  • https://goo.gl/8uapbq
  • https://goo.gl/LgPXB8

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus