IMF says Gabon’s economic growth to narrow to about 1 pct in 2017

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KINSHASA – Gabon’s economy is expected to grow about 1 percent in 2017, down from 2.1 percent last year, largely due to weakness in the oil sector and a recession in the commercial and service sectors, the International Monetary Fund said on Wednesday.

Gabon has been hard hit by a more than 50-percent drop in oil prices since 2014 as well as its struggle to diversify the economy away from oil, as the IMF has advised.

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