Thursday, January 12, 2017

Equatorial Guinea Continues Economic Progress, Reaches Horizon 2020 Goals

The Republic of Equatorial Guinea has continued economic progress toward becoming an emerging market country and reached several of the country’s Horizon 2020 goals.

The commitment to make Equatorial Guinea an emerging market country is one of the top priorities of the President of the Republic of Equatorial Guinea, HE Obiang Nguema Mbasogo, and is outlined in the country’s Horizon 2020 plan.

Horizon 2020 is establishing the structure for a national economic system to compete on the international stage, and several of the goals outlined by the Plan have already been reached.

Accomplishments include the construction of social housing in key provinces and the creation of new urban districts, all despite the decline in the price of oil, the country’s main source of revenue.

The Plan has also increased funding for new transportation infrastructure, the corresponding electricity connectivity, and the construction and refurbishment of secondary schools in all municipalities.

Equatorial Guinea has the highest literacy rate in Central Africa at 78.5 percent.