Central African Republic: Staff Report for the 2004 Article IV Consultation
Volume/Issue:
Volume 2004
Issue 159
Publication date: June 2004
ISBN: 9781451806601
$20.00
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Topics covered in this book
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Business and Economics , Political Science , Exports and Imports , Labor , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , CAR authorities , C , A , R , authorities , recovery program , salary obligation , wage bill , government withdrawal , utility consumption , Arrears , Mining sector , Central Africa , Sub-Saharan Africa
Summary
This 2004 Article IV Consultation highlights that the Central African Republic’s period since 2000 has been marked by poor economic performance, owing in large part to military disturbances, but also to weak administration and poor program implementation. The conflict that ended in March 2003 shattered the Central African Republic's economy. Real GDP contracted by 7 percent in 2003, with the formal sector of the economy in a particularly dire state. The deficit in the overall budget balance including grants widened by about 2 percent of GDP in 2003.
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