Chad Economic Update - April 2022
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Washington, DC
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Descripción
Chad’s gross domestic product (GDP)
contracted by 1.2 percent in 2021 - the second consecutive
year of recession - driven by a two-month suspension of oil
production at its Esso plants, economic disruptions due to
sociopolitical insecurity, and liquidity constraints because
of delays in debt restructuring. Low oil revenue, coupled
with increased spending to deal with shocks, widened the
fiscal deficit to 4.3 percent of GDP in 2021. The 2022-24
economic recovery is expected to be fragile and subject to
significant downside risks related to recurrent and emerging
sources of vulnerability. With a slow and fragile economic
recovery, the adverse effects of the pandemic on poor and
vulnerable households are expected to last in the short to
medium term. Chad can seize emerging opportunities offered
by the political transition, increasing oil prices, and debt
restructuring to undertake reforms aimed at renewing its
social contract and reducing long-term vulnerabilities.
Stronger agricultural and livestock value chains are
critical to economic diversification, sustainable growth,
and food security in the medium to long term. Livestock is
the economy’s most important non-oil sector and represents a
major income source in the agriculture sector. The
government should take bold actions to strengthen or create
agricultural and livestock value chains.
Palabras clave
RECESSION, SUSPENSION OF OIL PRODUCTION, ECONOMIC DISRUPTION, SOCIOPOLITICAL INSECURITY, LIQUIDITY CONSTRAINTS, DEBT RESTRUCTURING, OIL REVENUE, ECONOMIC SHOCK, FISCAL DEFICIT, FRAGILE RECOVERY