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Chad 2021 Economic Update : Recovering from Shocks – Improving Macro-Fiscal Sustainability to Rebuild Better (Английский)

The COVID-19 pandemic has significantly disrupted Chad’s economic recovery, which started in 2018. GDP contracted by 0.9 percent in 2020. Agriculture and the oil sector remained the main drivers of growth, contributing 1.1 percentage points, while services contracted (contributing -2.0 percent). The impact of containment measures on domestic supply chains pushed up prices, and inflation rose from -1.0 percent in 2019 to 3.5 percent in 2020. Both the fiscal and current account balances deteriorated substantially, and difficulties in financing fiscal deficit may have led to further domestic arrears’ buildup. Given the lack of fiscal space and large financing requirements, bold actions are needed. In this regard, the government could first strengthen economic diversification to enlarge the fiscal base, by removing bottlenecks to livestock exports, adopting business-friendly reform to support the private sector, and strengthening fiscal administration and policy for better revenue collection. Second, the government could improve its spending efficiency to deliver quality service under declining resources by enhancing the selection process, the planning and designing of investment projects, and improving public spending efficiency in health and education. Finally, the government should improve debt sustainability by strengthening its management and transparency.

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  • Автор

    Tchana Tchana,Fulbert, Noumedem Temgoua,Claudia, Savadogo,Aboudrahyme

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    Africa West,

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  • Название документа

    Chad 2021 Economic Update : Recovering from Shocks – Improving Macro-Fiscal Sustainability to Rebuild Better

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    oil; household income; oil price; fiscal deficit; poor household; Public and Publicly Guaranteed; state development bank; access to health service; current account deficit; male head of household; exemption from customs duties; gross fixed capital; Defense and Security Forces; heavily indebted poor country; change in consumption; multilateral debt relief initiative; Public Finance Management; gender gap in education; weak expenditure control; Public Financial Management; expansionary fiscal policy; covariate shock; coping strategy; school closure; foreign direct investment; oil-exporting country; increase in prices; global oil market; fiscal consolidation; Public Procurement System; food security status; loss of income; flow of refugees; oil revenue management; source of financing; million people; decline in remittance; debt restructuring; monetary policy; value added tax; disparity in income; world food programme; amount of remittance; private safety net; inequality will increase; loss of wage; theft of money; vulnerability to shock; school feeding program; oil price increases; distribution of consumption; public health service; male-headed household; change in revenue; reproductive health service; reallocation of resource; presumptive income tax; engine of growth; oil price decline; provision of water; risk of debt; public investment spending; public expenditure decision; weak budget execution; public expenditure assessments; provision water; local commercial bank; business license tax; national poverty line; fiscal consolidation effort; real exchange rate; IS Building; headcount poverty rate; growth in agriculture; current account balance; income of household; education health; pushing up prices; consumer price inflation; public expenditure analysis; oil revenue volatility; vulnerable household; government spending; economic recovery; trade balance; domestic arrears; external financing; economic recession; oil production; urban counterpart; Public Spending; budget allocation; debt service; idiosyncratic shock; cash basis; fiscal balance; in poverty; political tension; fiscal space; rural area; macroeconomic indicator; downside risk; food insecurity; financial market; liquidity constraint; net export; total consumption; debt sustainability; increase poverty; several years; bilateral trade; Oil Export; debt market; long-term securities; monetary stance; food price; urban resident; fiscal surplus; rural resident; retail trade; informal worker; real gdp; primary sector; rainy season; agriculture production; ongoing conflicts; electoral cycle; put pressure; bond issue; household level; rural income; consumption distribution; weather condition; family enterprise; urban household; social spending; population cause; children's education; external reserve; educational activities; domestic supply; financial account; inflation dynamic; economic diversification; import growth; border closure; fiscal base

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