Public investment in Sao Tome and Principe falls in 2005

7 June 2006

Sao Tome, Sao Tome and Principe, 07 June – Public investment in Sao Tome and Principe totaled US$18.73 million in 2005, representing a fall of 33 percent against 2004, according to official figures.

Figures from the Ministry of Planning and Finance showed that of the amount invested, 78.11 percent came from foreign funding, with US$13.34 million in the form of donations and US$1.29 million in loans.

The remaining US$4.1 million were financed internally, with US$1.8 million from the state budget and US$2.3 million from the International Monetary Fund (IMF and World Bank program for Highly Indebted Poor Countries (HIPC).

The sectors that benefited most were Public Works, Infrastructures and Land Planning with US$5.97 million, Transport and Communications with US$3.8 million, Health with US$3.22 million and Agriculture with US$1.35 million.

As compared with the same period of 2004, there was a 33 percent fall corresponding to a drop of US$9.21 million, due to weak foreign financing in 2005 and a lack of domestic savings.

The largest investment of the last five years took place in 2004 with a total of US$27.94 million as compared with the lowest posted in 2000 to a value of US$18.68 million. (macauhub)