2027 budgets: a two-speed CEMAC
As the 2027 finance bills reach parliaments, the budget choices of CEMAC countries are diverging sharply. Some are tightening their belts, others are betting on spending.
Translated from French. Lire en français
Equatorial Guinea tightens the screws
Malabo plans a 2027 budget down 13.7%, nearly 200 billion FCFA less. The reason: an expected fall in oil revenue. The country, highly dependent on hydrocarbons, is suffering from declining production.
Gabon steps up
Conversely, the Gabonese government is counting on a 2027 budget up 13.2%, an extra 727.9 billion FCFA. The ambition relies in particular on large issues on international markets, but it raises questions in parliament about how it will concretely meet social expectations.
Cameroon between debt and investment
Cameroon expects 3,121 billion FCFA in budget revenue in 2027, of which 680 billion is earmarked for investment. The country remains mindful of its debt burden: in 2026, it paid 1,671 billion FCFA in debt service, out of 1,780 billion initially planned.
Chad wants a "budget of execution"
In N'Djamena, President Mahamat Idriss Déby Itno has called for a 2027 budget that breaks with simply rolling over spending and serves as an operational tool for the Chad Connexion 2030 plan. The stated growth target is 7.3%.
A common framework, different realities
All these budgets fit within a regional framework: CEMAC convergence criteria, commitments made to the IMF and the goal of strengthening foreign exchange reserves. But varying dependence on oil, debt levels and market access explain very different paths. Multilateral surveillance by the CEMAC Commission will be decisive in preventing these gaps from weakening the common currency.
Key figures
- Equatorial Guinea: 2027 budget down 13.7%
- Gabon: 2027 budget up 13.2%
- Cameroon: 3,121 billion FCFA in expected revenue, including 680 billion for investment
- Chad: 7.3% growth target for 2027
- Published on:
- Wednesday, 28 October 2026
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