{"id":379852,"date":"2024-12-13T13:10:44","date_gmt":"2024-12-13T16:10:44","guid":{"rendered":"https:\/\/anba.com.br\/?p=379852"},"modified":"2024-12-13T13:10:46","modified_gmt":"2024-12-13T16:10:46","slug":"djibouti-projected-to-grow-at-6-5-in-2024","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/djibouti-projected-to-grow-at-6-5-in-2024\/","title":{"rendered":"Djibouti projected to grow at 6.5% in 2024"},"content":{"rendered":"\n

S\u00e3o Paulo \u2013 Djibouti, an Arab country in Africa, has an economic growth projected at 6.5% for this year, according to an analysis released by the International Monetary Fund (IMF<\/a>) on Thursday (12). The country\u2019s economy has strong foundations in shipping and logistics due to the strategic location of the Port of Djibouti. This sector has shown resilience to regional conflicts, according to the IMF team.<\/p>\n\n\n\n

\u201cGrowth in FY24 is projected at a robust 6.5 percent, driven by increased transshipments as shipping companies navigate Red Sea tensions,\u201d says the report by Esther P\u00e9rez Ruiz, who led the IMF team during its visit to the Arab country from December 8 to 12. Transshipment occurs when cargo is transferred from one ship to another to continue to a new destination.<\/p>\n\n\n\n

In the Red Sea, vessels have been suffering recurring attacks by the Houthis, a group from Yemen. The Port of Djibouti has an outlet to the Gulf of Tadjoura, which lies next to the Gulf of Aden, providing access to the Indian Ocean, the Mediterranean Sea, the Red Sea, and the Suez Canal.<\/p>\n\n\n\n

According to Ruiz, inflation remains moderate in Djibouti as the authorities have stabilized energy and food prices to mitigate the impact of rising import costs. The fiscal deficit for 2024 is projected to stabilize at 3.5% of gross domestic product in 2024, as reduced interest payments offset weaker tax revenues and grants.<\/p>\n\n\n\n

Esther P\u00e9rez Ruiz, however, highlights the decline in the country\u2019s international reserves over the past two years, \u201cwhich deserves attention in view of substantial outstanding external obligations,\u201d she said. The IMF executive also mentions risks to the country\u2019s economic outlook, such as limited job creation or the recurrence of droughts, which disproportionately affect the poor.<\/p>\n\n\n\n

Djibouti’s overall outlook could enhance<\/strong><\/h2>\n\n\n\n

\u201cOn the positive side, stronger-than-expected growth in Ethiopia and a swift resolution of Red Sea disruptions could enhance Djibouti\u2019s overall outlook,\u201d she said. Ethiopia, a major economy in Africa, is Djibouti\u2019s neighbor. Esther P\u00e9rez Ruiz highlights the authorities\u2019 efforts promoting macroeconomic sustainability and the credibility of the political framework, with measures such as expediting debt negotiations, revising agreement, and enhancing revenue mobilization.<\/p>\n\n\n\n

Read more:<\/em>
Djiboutian growth reached about 7% in 2023<\/a><\/p>\n\n\n\n

Translated by Guilherme Miranda<\/strong><\/p>\n

Djibouti Port and Free Zone<\/div>","protected":false},"excerpt":{"rendered":"

The International Monetary Fund\u2019s projection takes into account the resilience of the country\u2019s maritime shipping sector, despite regional conflicts. The Port of Djibouti is the main driver of the local economy.<\/p>\n","protected":false},"author":2316,"featured_media":379848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[12209,10545,1988,51918],"class_list":{"0":"post-379852","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-djibouti-2","9":"tag-economy-en","10":"tag-imf","11":"tag-port-of-djibouti"},"wps_subtitle":"The International Monetary Fund\u2019s projection takes into account the resilience of the country\u2019s maritime shipping sector, despite regional conflicts. The Port of Djibouti is the main driver of the local economy.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/379852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=379852"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/379852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/379848"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=379852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=379852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=379852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}