Introduction to the government budget
The Government of Equatorial Guinea is committed to financial transparency and is working to promote a wider understanding of its finances through the annual publication of its budget. The budget document outlines the total income, investment and revenue expenditure of each major department and has been available to the public since 2008.
The General State Budget for the fiscal year 2014 foresees a very slight reduction in oil revenues. The government plans to increase current (ongoing) and investment expenses, which will lead to a fiscal deficit of 388 billion CFA or £491m (4.8% of GDP).
Total income is 3.24 billion GBP for the year 2014. Overall 88% of this is derived from oil revenue which is obtained via GEPetrol, Equatorial Guinea’s state owned oil company.
Investments represent 74% of expenditures, with a budget of 2,201,920m CFA (2,780m GBP), while government running costs amount to 755,514m CFA (954m GBP), an increase of 27% over the previous year.
2014 budget
Key figures from the 2014 Budget
| Total income | 2,568,545m CFA | (3,244m GBP) |
| Total expenditure | 2,957,434m CFA | (3,736m GBP) |
| Funding/deficit | 388,889m CFA | (491m GBP) |
Income breakdown
| Income from oil | 2,287,160m CFA | (2,891m GBP) |
| Income from other sources | 281.385m CFA | (356m GBP) |
| Total income | 2,568,545m CFA | (3,244m GBP) |
Expenditure breakdown
| Running costs | 755,514m CFA | (954m GBP) |
| Investment (total) | 2,201,920m CFA | (2,780m GBP) |
| Funds for projects | 2,ooo,ooom CFA | (2,526m GBP) |
| Co-funding of projects | 1,920m CFA | (2,5m GBP) |
| Capital transfer | 200,000m CFA | (2,526m GBP) |
| Total expenditure | 2,957,434m CFA | (3,736m GBP) |
The General State Budget for the fiscal year 2014 can be viewed here.
National Public Investment Plan 2013-2016
In the 2013 Budget, the Government of Equatorial Guinea announced the National Public Investment Plan which intends to invest 1,761,921m CFA (2,314m GBP) in public and social sectors over a three year period.
2013-2016 Public Investment breakdown
| Social expenditure | 400,419m CFA | (526m GBP) |
| Education | 47,338m CFA | (62m GBP) |
| Public housing | 48,392m CFA | (64m GBP) |
| Water and sanitation | 40,079m CFA | (53m GBP) |
| Health | 227,501m CFA | (299m GBP) |
| Public administration | 227,747m CFA | (299m GBP) |
| Productive sector | 883,153m CFA | (1,160m GBP) |
| Infrastructure | 250,602m CFA | (329m GBP) |
| Total public investment | 1,761,921m CFA | (2,314m GBP) |
