Thank you, Norbert. Honorable Governor Pirmatov, Executive Directors, Distinguished Guests, I am delighted to welcome all of you to CCAMTAC (/see-cam-tack/)! our Caucasus, Central Asia, and Mongolia Regional Capacity Development Center.
“Equatorial Guinea’s economy expanded in 2022 for the first time since 2014, with real GDP growth estimated at 2.2 percent, reflecting higher global hydrocarbon prices and Bata reconstruction. Inflation reached 4.8 percent in 2022 on account of high food import prices. A significant part of the hydrocarbon revenue windfall was saved as reflected in the fiscal surplus of 10.1 percent of GDP, and a significant strengthening of the external current account. However, the non-oil primary fiscal deficit increased to 9.9 percent of GDP in 2022 from 8.7 percent of GDP in 2021. The banking sector prudential indicators weakened.
A new €300 million lending agreement between the European Investment Bank (EIB) and BNG Bank will facilitate low-cost financing for Dutch public sector entities.
