Highlights

• The world’s fourth-largest producer of uranium, Niger has been producing crude oil since 2011.  These two products are the country’s main export products. 
• Niger’s economy growth is estimated at 5.1% in 2019, down by 1.9 points compared to 2018. The growth outlook remains less favorable in 2020, with a projected growth rate of 1.0% in line with the impact of the COVID-19 on economic activity, particularly in the secondary and tertiary sectors. Thus, the contribution to growth in the secondary sector will fall from 1.7 points in 2019 to 0.1 points in 2020. As for the contribution to growth in the tertiary sector, it would be negative in 2020 after a contribution of 2.2 points in 2019. Notwithstanding the security challenge to which Niger is exposed and the shocks still facing its economy, the country has experienced an average growth of 5.5% over the last five years.
• The dynamism of the economy is boosted by the implementation of the Economic and Social Development Plan (PDES) over the 2017-2021 period, one of the objectives of which is to achieve sustained and inclusive growth.
• The public investment expenditure under the PDES and the expenditure incurred in the fight against insecurity have contributed to the deterioration of Niger’s budget balance. Related to GDP, the budget deficit of the country was above the community standard of 3.0% over the 2015-2017 period. The improved performance of financial institutions and the measures taken by the Government to control public expenditure helped reduce the budget deficit from 6.7% in 2015 to 4.1% in 2017 before reaching 3.0% in 2018. The budget deficit is estimated at 3.6% of GDP in 2019, it would settle at 5.0% in 2020.   
• Given the realization of investments within the framework of the PDES and the fall in world uranium prices, the current account deficit in Niger widened over the 2015-2017 period with an estimated average level of 12.8% of GDP over the period. In 2019, the current account deficit related to GDP is estimated at 11.4%, down by 1.3 percentage points compared to 2018. It is projected to increase in 2020 at 14.0% of GDP. 
• The deterioration in the budget balance contributed to increase in the debt rate of Niger from 39.0 % in 2018 to 42.0 % in 2019, an increase of 3.0 percentage points. In 2020, Niger’s debt rate would reach 47.1%. Despite this increasing trend, Niger’s debt rate is expected to remain below the community standard of 70%.