APA-Conakry (Guinea) From our correspondent: Sadjo Diallo In his opening speech for the session
budget for the 2020 financial year, Monday in Conakry, the President of the National Assembly, Kory Kondiano
announced that Guinea expects a growth rate of 6% this year.
According to Kondiano, Guinea's medium-term growth prospects remain "positive", despite
a tense socio-political environment, "due to the very forthcoming elections and a
slightly less favorable world situation”.
“The economic growth rate will indeed be high compared to the sub-region, remaining at the
level of 6% in real terms in 2020. Bauxite production having doubled in the last 3 years
will lead the country to become the world's leading exporter in the next 3 years. As for the production
agriculture in general and that of rice in particular, their increase presages the attack on more or less
short term of food self-sufficiency", he indicated, stressing in the process that these "good
outlook" remain highly dependent on the continued consolidation of public finances,
to reduce the budget deficit to 3%.
“This performance also depends greatly on the continuation of structural reforms, including
those relating to the development of the Guinean private sector, to make it the engine of growth", he said.
added.
The National Assembly has recommended the coordination of tax policies with those in force
in ECOWAS countries to strengthen the competitiveness of local Guinean industries within the framework
the entry into force of the new common external tariff (TEC) and the forthcoming establishment of the Zone
African Continental Free Trade Agreement (Zlecaf).