Guinea

Economy

Main article: Economy of Guinea

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Guinea possesses major mineral, hydropower, and agricultural resources, yet remains a poor underdeveloped nation. The agricultural sector employs 80% of the work force. Guinea possesses over 25% of the world's bauxite reserves and is the second largest bauxite producer. The mining sector accounted for about 75% of exports in 1998. Long-run improvements in government fiscal arrangements, literacy, and the legal framework are needed if the country is to move out of poverty. The government made encouraging progress in budget management in 1997-1999. Even with a recovery in prices for some of Guinea's main commodity exports, annual GDP is unlikely to increase by more than 5% in 2000-2001.

Related Topics:
Mineral - Hydropower - Agricultural - Underdeveloped nation - Bauxite - Mining - 1998 - 1997 - 1999 - GDP - 2000 - 2001

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