Guinea - Public finance

Guinea did not have a formal government budget until 1989. Since then, overly optimistic revenue projections, increasing civil service salaries and military expenditures, and diversion of public funds have resulted in deficits. The government took control of the problematic electricity and water utilities in 2001, giving itself one year to fix the structural shortfalls and then find new partners to operate them.

The US Central Intelligence Agency (CIA) estimates that in 2000 Guinea's central government took in revenues of approximately $395.7 million and had expenditures of $472.4 million. Overall, the government registered a deficit of approximately $76.7 million. External debt totaled $3.6 billion.

The following table shows an itemized breakdown of government revenues. The percentages were calculated from data reported by the International Monetary Fund. The dollar amounts (millions) are based on the CIA estimates provided above.


Tax revenue 60.1% 238
Non-tax revenue 2.5% 10
Capital revenue 1.6% 6
Grants 35.8% 142
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