Central African Republic

Central African Republic Economic Outlook

Real GDP grew 0.5% in 2022, down from 1% in 2021 and 2020, due to the prolonged shortage of oil products and the effects of Russia’s invasion of Ukraine. Inflation rose to 7.9% in 2022 from 4.3% in 2021, driven by higher oil and food prices. Monetary policy was accommodative in 2022, with a 4.5% prime rate, facilitating a 29.7% increase in domestic credit. External assets contracted 102% from 2021 to 2022, which correlated with a drop in external financing and a rise in import costs.

Key Facts

Flag:

Capital:

Bangui

Population 2023:

6,1millions

Date of membership:

26 August 1970

View detailed map

Bank intervention strategy

Priority area 1 - Support for agricultural development and infrastructure in support of social inclusion.
Priority area 2 - Strengthening institutional capacities and governance.

The implementation of operations planned under these two pillars aims to promote inclusive economic growth through support for growth sectors (agriculture/livestock), the development of basic infrastructure, institutional capacity building to promote governance and an environment conducive to private sector development.

Visite du Président de la Centrafrique au siège de la BAD

M. Issoufou Issaka, Ministre de l'Hydraulique et de l'Environnement, Président du Conseil des Ministres de la Commission du Bassin du Lac Tchad

Interview with Engr. Sanusi Imram Abdullahi, Executive Secretary of the Lac Chad Basin Commission

News and Events

The African Development Bank welcomed opinions and comments from representatives of many CSOs in the Central African Republic in preparing its Country Diagnostic Note.

10-May-2024

Central African Republic: African Development Bank and civil society commit to inclusive, sustainable development

Bangui National Hemodialysis Center

16-Apr-2024

National Dialysis Centre and National Medical Imaging Centre in Bangui, Central African Republic, give patients new hope and a smile

Central African Republic President Faustin-Archange Touadéra warmly receives AfDB Vice President Marie-Laure Akin-Olugbade in his Bangui office, reaffirming the strong partnership between the nation and the Bank.

05-Apr-2024

African Development Bank and Central African Republic forge stronger alliance to tackle fragility and drive sustainable development

The Central African Republic now has its own fully equipped and operational digital training centre thanks to support from the African Development Bank. Bank Vice-President, Marie-Laure Akin Olugbade (dressed in yellow, at rear of picture), visited the new centre in March 2023.

05-Apr-2024