Overview Equatorial Guinea

Show region West and Central Africa

Political patronage is so widespread and runs so deep that it has become institutionalized. Political office is illicitly lucrative in the small oil state and is hence awarded to those most loyal to the regime.

Growing budget deficits and public debt suggest the regime might take heed of the IMF’s recommendations to diversify the economy away from hydrocarbons toward dependence on tax revenues derived from agriculture and downstream energy, such as petrochemicals, fisheries and tourism.

The ruling class’s strategic priorities are not oriented toward democracy and only at best partially toward a market economy. Policy priorities serve almost exclusively to ensure the regime’s survival and enrichment.

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