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From 2010 to 2016, oil accounted for approximately 80% of Gabon’s exports, 45% of its GDP, and 60% of its state budget revenues.
GDP grew nearly 6% per year over the 2010-14 period, but slowed significantly from 2014 to just 1% in 2017 as oil prices declined.
Gabon’s oil revenues have given it one of the highest per capita income levels in sub-Saharan Africa, but the wealth is not evenly distributed and poverty is widespread.
Pegged to the Euro.
Low oil prices also weakened government revenue and negatively affected the trade and current account balances. In the wake of lower revenue, Gabon signed a 3-year agreement with the IMF in June 2017.
English is not spoken, though the government intends to introduce English as a first foreign language in schools.
Very high level of corruption.
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