São Paulo – Mauritania’s gross domestic product is expected to grow by 4.6% this year compared to 2023, when growth was 6.5% relative to 2022. This estimate comes from the International Monetary Fund (IMF), which met with local authorities between October 3 and 16 to review the financial support it provides to the North African country. The meetings took place in Mauritania’s capital Nouakchott, and at the end of them, the fund issued a statement.
According to the IMF, the growth forecast for 2025 is 4.2%. The reasons for this reduction indicated by the fund include a “slow” growth of the extractive sector this year, as well as a slowdown in the mining sector in 2025.
“The growth outlook is subject to significant risks, including an escalation of geopolitical tensions in the region, additional delays in the start of operation of the GTA gas project, and the occurrence of weather shocks,” says the institution’s statement. GTA is a gas exploration project at the maritime border between Mauritania and Senegal.
Mauritania can develop through reforms
The IMF says in its statement that it “encourages” ongoing reforms aimed at promoting the development and stability of the financial sector, which could significantly contribute to the economic development of the Arab country. Additionally, the fund highlights that the implementation of the new investment code will create equal competition conditions and foster private sector-led growth.
In the meeting with the authorities, the financial institution also announced the release of two more disbursements of support programs for the country: one amounting to USD 8.6 million and the other corresponding to USD 39.7 million. This is subject to approval by the IMF Executive Board.
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Translated by Guilherme Miranda
