Guinea-Bissau’s tax revenues of Guinea-Bissau in 2014 exceeded forecasts

27 February 2015

Guinea-Bissau’s tax revenues in 2014 exceeded the forecasts of the International Monetary Fund (IMF) said Wednesday in Bissau Felix Fischer, head of a mission of that organization, who mentioned a year-on-year increase of 60 percent.

The Minister of Economy and Finance, Geraldo Martins, said at the time that the forecast indicated a 40 percent increase in tax revenues and added that “this number was exceeded, which brings advantages for Guinea-Bissau.”

“With these revenues, [the State] settled its external debt arrears, which is important because it opens up the way for new financing these organisations, which in some cases had already closed the door to Guinea-Bissau for several years,” Fischer said cited by Portuguese news agency Lusa.

The positive evaluation of the IMF comes shortly before the donor roundtable, organised by the Government of Guinea-Bissau, on 25 March in Brussels.

The mission, which ended a visit to Bissau on Thursday, assessed the country’s situation after it received an IMF loan in November.

By the end of the first half, a new is scheduled to travel to Guinea-Bissau to prepare a financing plan spread over several years. (macauhub/GW)