Sunday, May 20, 2012

IMF Program Note on Djibouti

The International Monetary Fund (IMF) issued a short program update on Djibouti on 13 April 2012. The IMF said the macroeconomic environment for Djibouti remained mixed in 2011. Real GDP growth rose from 3.5 percent in 2010 to 4.5 percent in 2011, thanks to the recovery of transshipment activity and transit trade with Ethiopia. The current account deficit deteriorated from 5.8 percent of GDP in 2010 to 12.6 percent of GDP in 2011. Djibouti's economic outlook for 2012 is relatively favorable. Real GDP is expected to grow at a rate of about 4.8 percent, buoyed by port activity, trade with Ethiopia, construction and foreign direct investment.

Click here to read the report.

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