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Djibouti

Country Code: 262

ISO2 Code: DJ

ISO3 Code: DJI

Country Economic Snapshot

2020-07-21

After 8.4% in 2018 and 7.5% in 2019, growth is expected to slow to 1.3% in 2020 compared to an initial projection of 7.5%, as the economic machine stops for weeks because of the COVID-19 outbreak. The first case of coronavirus in Djibouti was confirmed on March 18, 2020. As an early response, the Government suspended all in and out international passenger flights on March 18, 2020, closed schools and universities on March 23, and ordered a general lockdown starting from March 27, 2020. While it is early to assess the overall economic impact of these measures, government simulations indicate that they could cost 0.75% of GDP per week of general lockdown for a duration of 8 to 10 weeks needed to flatten the curve.

Despite the COVID-19, the medium-term economic outlook will continue to reflect the Government’s strategy of positioning the country as a regional trade, logistics and digital hub gains traction. GDP growth is projected to rebound to 9.2% in 2021, before falling back to 8.0% in 2022-2025. The speed of the recovery will depend on the depth of the COVID-19 crisis and the effectiveness of the safety net scheme the government is putting in place to protect households and businesses. Growth will remain driven by free zone reexports and exports of transportation, logistics, and telecommunication services. It is expected that poverty will decline thereafter to 13.5% in 2021 and 12.1% in 2022 if Djibouti manages to grow at pre-COVID-19 rates and if this growth is mirrored by job creation that is inclusive and broad based.

Source: World Bank

Info

Capital Djibouti
Currency (Name, Abbreviation, Symbol) Djiboutian franc , DJF , Fdj
Area 23,200 sq km
Type of Government presidential republic
Languages French (official), Arabic (official), Somali, Afar
Natural Resources potential geothermal power, gold, clay, granite, limestone, marble, salt, diatomite, gypsum, pumice, petroleum
Type of Industry construction, agricultural processing
Stock Exchange NONE
Stock Exchange Location -
Stock Exchange Founded -
Tax Rate: Corporate
Tax Rate: Individual
Natural Resources potential geothermal power, gold, clay, granite, limestone, marble, salt, diatomite, gypsum, pumice, petroleum

Latest available information as sourced from:

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