Guinea is not included in the list of wealthy and rapidly developing countries, as its economic background remains relatively weak, and multiple indicators may prove this thesis. For instance, observing the economic climate of this state, The World Bank states: “Growth stood at around 10% in 2016 and 2017, before slowing to 5.8% in 2018” (The World Bank in Guinea, 2019, para. 3). According to Guinea Economic Outlook (n. d.), the tax burden put on the population comprised 14,7% in 2019. In addition, the public debt is expected to be 45% in 2021 (Guinea Economic Outlook, n. d.). In general, the poverty level appears to be high and present 43,7% of the population in accordance with the most recent values (Poverty headcount ratio at national poverty lines (% of population) – Guinea, n. d.). Although not all the economic indicators are mentioned, the weak situation is evident, as well as the necessity of implementing the measure, which will be effective in the long run.
References
Guinea economic outlook. (n. d.). African Development Bank Group. Web.
Poverty headcount ratio at national poverty lines (% of population) – Guinea. (n. d.). The Word Bank. Web.
The World Bank in Guinea. (2019). The World Bank. Web.