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Creating the country of tomorrow.(Equatorial Guinea, economic development)
The Middle East
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July 1, 2005|
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COPYRIGHT 2005 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Over the past decade, Equatorial Guinea has experienced economic growth on a scale rarely seen in Africa or indeed anywhere else in the world. The combination of a string of oil discoveries and the country's limited population has resulted in annual GDP growth fluctuating between 13% and 66% over the past few years.
The IMF predicts that growth in 2005 will reach a massive 48% (not as much as the 72% growth the country enjoyed in the late 1990s but high enough to retain the country's status as the fastest growing economy in the world).
This will not only ...
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