Guinea Bissau economy expected to post growth of 2.8 pct this year

5 July 2012

The Guinea Bissau economy is expected to grow 2.8 percent this year, which is far less than the 4.5 percent projection from the International Monetary Fund (IMF), the spokesman for the transitional government, Fernando Vaz, said Tuesday in Bissau.

In December 2011, the resident IMF representative, Alfredo Santos, said that economic growth in Guinea Bissau in that year was estimated at 5.3 percent and forecast that in 2012 the Guinean economy would post growth of 4.5 percent.

Summarising the first month of the transitional government, Vaz, who was accompanied by the Minister for Justice and Territorial Administration, said that the government had found 1.3 million euros in the State coffers but had also “inherited” bank debts, unpaid salaries, eight months of debts to embassies and unpaid salaries in the interior for structures related to the energy sector.

The government, Vaz added cited by Portuguese news agency Lusa, paid three months of salaries to public workers, negotiated delayed payments with teachers and has also paid off two of the eight months of delayed payments to embassies.

Vaz announced that in the Health sector an agreement had been signed with China, which would bring 17 health workers to Bissau, including doctors. (macauhub)