Macroeconomic and Developmental Indicators
Economic Outlook
Over the 2014-19 period, Niger recorded an average real growth of 5.7%, exceeding the ECOWAS average (4.5%). The country experienced a slowdown in economic activity in 2015 before picking up in 2016. Economic activity then slowed in 2019 by 0.2 % compared to the previous year. In terms of prospects, economic activity is expected to slow down in 2020 with an expected real GDP of 5.6%.
Over the same period, Niger recorded an average annual per capita GDP of US$924.9, the lowest in ECOWAS. At the same time, Niger’s population grew with an average annual rate of 3.9% and the country is still classified as a country with a low Human Development Index. In 2014, Niger’s poverty rate was set at 44.5% of the population and the GINI index measuring income inequality was estimated at 34.3%.
Inflation remained moderate and well below the threshold of 3% of GDP set by the WAEMU convergence criteria. The fiscal balance remained in deficit, with an average deficit of 6.2% of GDP. Niger was unable to meet the WAEMU convergence criterion on the fiscal balance (≥ -3% of GDP).
Over the period 2014-19, Niger’s public debt increased, with an average annual debt of 46.3% of GDP. The level of debt remains within the threshold (≤ 70% of GDP) set by the WAEMU convergence criteria. The current account remained in deficit, with an annual average deficit of 17.6% of GDP. The credit to the private sector fluctuated during the last six years, with an average annual increase of 6.9%. In terms of business environment, Niger is ranked 132nd out of 190 countries on the 2019 World Bank Ease of Doing Business Survey.