Highlights

  • The world’s fourth-largest producer of uranium, Niger has been producing crude oil since 2011.  These two products are the country’s main export products. 
  • Niger’s economy growth is estimated at 5.1% in 2019, down by 1.9 points compared to 2018. The growth outlook remains less favorable in 2020, with a projected growth rate of 1.0% in line with the impact of the COVID-19 on economic activity, particularly in the secondary and tertiary sectors. Thus, the contribution to growth in the secondary sector will fall from 1.7 points in 2019 to 0.1 points in 2020. As for the contribution to growth in the tertiary sector, it would be negative in 2020 after a contribution of 2.2 points in 2019. Notwithstanding the security challenge to which Niger is exposed and the shocks still facing its economy, the country has experienced an average growth of 5.5% over the last five years.
  • The dynamism of the economy is boosted by the implementation of the Economic and Social Development Plan (PDES) over the 2017-2021 period, one of the objectives of which is to achieve sustained and inclusive growth.
  • The public investment expenditure under the PDES and the expenditure incurred in the fight against insecurity have contributed to the deterioration of Niger’s budget balance. Related to GDP, the budget deficit of the country was above the community standard of 3.0% over the 2015-2017 period. The improved performance of financial institutions and the measures taken by the Government to control public expenditure helped reduce the budget deficit from 6.7% in 2015 to 4.1% in 2017 before reaching 3.0% in 2018. The budget deficit is estimated at 3.6% of GDP in 2019, it would settle at 5.0% in 2020.   
  • Given the realization of investments within the framework of the PDES and the fall in world uranium prices, the current account deficit in Niger widened over the 2015-2017 period with an estimated average level of 12.8% of GDP over the period. In 2019, the current account deficit related to GDP is estimated at 11.4%, down by 1.3 percentage points compared to 2018. It is projected to increase in 2020 at 14.0% of GDP. 
  • The deterioration in the budget balance contributed to increase in the debt rate of Niger from 39.0 % in 2018 to 42.0 % in 2019, an increase of 3.0 percentage points. In 2020, Niger’s debt rate would reach 47.1%. Despite this increasing trend, Niger’s debt rate is expected to remain below the community standard of 70%.

 

  2015 2016 2017 2018 2019 2020
Real GDP growth (%) 4.7 5.7 5.0 7.0 5.1 1.0
Inflation rate (annual average)   1.0 0.2 0.1 2.8 -2.6 1.1
Underlying budget balance / Nominal GDP * -6.7 -4.5 -4.1 -3.0 -3.6 -5.0
Investment ratio* 32.2 27.7 28.3 29.3 31.0 31.6
Current balance, grants included* -15.4 -11.5 -11.4 -12.7 -11.4 -14.0
Overall debt* 39.9 44.6 39.6 39.0 42.0 47.1

Sources : BCEAO, February 2020. except overall debt (IMF, Regional Economic Outlook : sub-Saharan Africa, April 2020) * in % of GDP 

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InstrumentAdditional detailsDate of operationValue dateDeadlineAmount(millions of FCFA)More infoStatus
T-Bill 17/09/202018/09/2020--20 000More info | ScheduledrealizedNiger 17/09/2020
T-Bill 03/09/202004/09/2020--20 000More info | ScheduledrealizedNiger 03/09/2020
T-Bill 13/08/202014/08/2020--25 000More info | ScheduledrealizedNiger 13/08/2020
T-Bill 09/07/202010/07/202008/07/202125 000More info | CompletedrealizedNiger 09/07/2020
T-Bill 31/05/201601/06/201630/08/201615 000More info | CompletedrealizedNiger 31/05/2016
T-Bill 14/04/201615/04/201613/10/201640 000More info | CompletedrealizedNiger 14/04/2016
T-Bill 06/10/201607/10/201604/10/201840 000More info | CompletedrealizedNiger 06/10/2016
T-Bond 21/08/201422/08/201422/08/201930 000More info | CompletedrealizedNiger 21/08/2014
T-Bond 02/04/201403/04/201403/04/201925 000More info | CompletedrealizedNiger 02/04/2014
T-Bill 12/12/2019----20 000More info
canceled | Completed

canceled
Niger 12/12/2019
T-Bill 12/05/202013/05/202011/08/2020100 000More info | CompletedrealizedNiger 12/05/2020
T-Bill 25/06/202026/06/202024/06/202125 000More info | CompletedrealizedNiger 25/06/2020
T-Bill 11/06/202012/06/202010/06/202125 000More info | CompletedrealizedNiger 11/06/2020
T-Bond 28/05/202029/05/202029/05/202330 000More info | CompletedrealizedNiger 28/05/2020
T-Bond 24/04/202027/04/202027/04/202520 000More info | CompletedrealizedNiger 24/04/2020
T-Bond 12/03/202013/03/202013/03/202320 000More info | CompletedrealizedNiger 12/03/2020
T-Bond 13/02/202014/02/202014/02/202715 000More info | CompletedrealizedNiger 13/02/2020
T-Bond 09/05/201910/05/201910/05/202220 000More info | CompletedrealizedNiger 09/05/2019
T-Bond 28/03/201929/03/201929/03/202220 000More info | CompletedrealizedNiger 28/03/2019
T-Bond 14/03/201915/03/201915/03/202430 000More info | CompletedrealizedNiger 14/03/2019
T-Bond 22/11/201823/11/201805/10/202130 000More info | CompletedrealizedNiger 22/11/2018
T-Bond 30/10/201831/10/201831/10/202330 000More info | CompletedrealizedNiger 30/10/2018
T-Bond 08/02/201809/02/201816/10/202020 000More info | CompletedrealizedNiger 08/02/2018
T-Bond 15/09/201718/09/201718/09/202030 000More info | CompletedrealizedNiger 15/09/2017
T-Bond 17/08/201718/08/201718/08/202230 000More info | CompletedrealizedNiger 17/08/2017
T-Bond 13/10/201716/10/201716/10/202020 000More info | CompletedrealizedNiger 13/10/2017
T-Bond 28/06/201729/06/201729/06/202240 000More info | CompletedrealizedNiger 28/06/2017
T-Bond 17/11/201618/11/201618/11/202330 000More info | CompletedrealizedNiger 17/11/2016
T-Bond 31/03/201601/04/201601/04/201935 000More info | CompletedrealizedNiger 31/03/2016
T-Bond 17/08/201618/08/201618/08/202135 000More info | CompletedrealizedNiger 17/08/2016
T-Bond 08/09/201509/09/201525/02/202030 000More info | CompletedrealizedNiger 08/09/2015
T-Bond 28/07/201529/07/201529/07/201825 000More info | CompletedrealizedNiger 28/07/2015
T-Bond 09/06/201510/06/201525/02/202030 000More info | CompletedrealizedNiger 09/06/2015
T-Bond 24/02/201525/02/201525/02/202030 000More info | CompletedrealizedNiger 24/02/2015
T-Bill 14/01/201615/01/201612/01/201740 000More info | CompletedrealizedNiger 14/01/2016
T-Bill 21/10/201522/10/201520/04/201635 000More info | CompletedrealizedNiger 21/10/2015
T-Bill 23/04/201524/04/201522/10/201535 000More info | CompletedrealizedNiger 23/04/2015
T-Bill 21/01/201522/01/201520/01/201640 000More info | CompletedrealizedNiger 21/01/2015
T-Bill 30/10/201431/10/201430/04/201535 000More info | CompletedrealizedNiger 30/10/2014
T-Bill 06/05/201407/05/201405/11/201435 000More info | CompletedrealizedNiger 06/05/2014
T-Bill 30/01/201431/01/201429/01/201541 000More info | CompletedrealizedNiger 30/01/2014
T-Bill 04/01/201805/01/201805/04/201825 000More info
canceled | Completed

canceled
Niger 04/01/2018
T-Bill 12/12/201713/12/201713/03/201820 000More info
canceled | Completed

canceled
Niger 12/12/2017
T-Bill 28/11/201729/11/201727/11/201815 000More info
canceled | Completed

canceled
Niger 28/11/2017
T-Bill 09/04/202010/04/202008/04/202125 000More info | CompletedrealizedNiger 09/04/2020
T-Bill 05/12/201906/12/201904/06/202025 000More info | CompletedrealizedNiger 05/12/2019
T-Bill 29/11/201902/12/201929/11/202020 000More info | CompletedrealizedNiger 29/11/2019
T-Bill 07/11/201908/11/201905/11/202020 000More info | CompletedrealizedNiger 07/11/2019
T-Bill 24/10/201925/10/201922/10/202020 000More info | CompletedrealizedNiger 24/10/2019
T-Bill 02/10/201903/10/201930/09/202020 000More info | CompletedrealizedNiger 02/10/2019
T-Bill 26/09/201927/09/201926/12/201925 000More info | CompletedrealizedNiger 26/09/2019
T-Bill 12/09/201913/09/201910/09/202020 000More info | CompletedrealizedNiger 12/09/2019
T-Bill 22/08/201923/08/201920/08/202020 000More info | CompletedrealizedNiger 22/08/2019
T-Bill 08/08/201909/08/201906/08/202020 000More info | CompletedrealizedNiger 08/08/2019
T-Bill 30/07/201931/07/201928/07/202020 000More info | CompletedrealizedNiger 30/07/2019
T-Bill 04/07/201905/07/201902/07/202020 000More info | CompletedrealizedNiger 04/07/2019
T-Bill 27/06/201928/06/201925/06/202020 000More info | CompletedrealizedNiger 27/06/2019
T-Bill 20/06/201921/06/201919/12/201940 000More info | CompletedrealizedNiger 20/06/2019
T-Bill 28/05/201929/05/201926/05/202020 000More info | CompletedrealizedNiger 28/05/2019
T-Bill 11/04/201912/04/201909/04/202020 000More info | CompletedrealizedNiger 11/04/2019
T-Bill 14/02/201915/02/201913/02/202025 000More info | CompletedrealizedNiger 14/02/2019
T-Bill 17/01/201918/01/201916/01/202020 000More info | CompletedrealizedNiger 17/01/2019
T-Bill 30/11/201803/12/201801/12/201925 000More info | CompletedrealizedNiger 30/11/2018
T-Bill 13/11/201814/11/201814/05/201925 000More info | CompletedrealizedNiger 13/11/2018
T-Bill 23/10/201824/10/201820/11/201815 000More info | CompletedrealizedNiger 23/10/2018
T-Bill 13/09/201814/09/201813/12/201830 000More info | CompletedrealizedNiger 13/09/2018
T-Bill 30/08/201831/08/201829/08/201920 000More info | CompletedrealizedNiger 30/08/2018
T-Bill 19/07/201820/07/201818/07/201915 000More info | CompletedrealizedNiger 19/07/2018
T-Bill 27/04/201830/04/201828/10/201820 000More info | CompletedrealizedNiger 27/04/2018
T-Bill 26/03/201827/03/201824/09/201820 000More info | CompletedrealizedNiger 26/03/2018
T-Bill 22/02/201823/02/201823/08/201820 000More info | CompletedrealizedNiger 22/02/2018
T-Bill 25/01/201826/01/201824/01/201925 000More info | CompletedrealizedNiger 25/01/2018
T-Bill 15/01/201816/01/201805/04/201825 000More info | CompletedrealizedNiger 15/01/2018
T-Bill 16/11/201717/11/201717/05/201825 000More info | CompletedrealizedNiger 16/11/2017
T-Bill 29/09/201702/10/201731/12/201715 000More info | CompletedrealizedNiger 29/09/2017
T-Bill 23/02/201724/02/201725/05/201725 000More info | CompletedrealizedNiger 23/02/2017
T-Bill 10/01/201711/01/201709/01/201840 000More info | CompletedrealizedNiger 10/01/2017
T-Bond
SI (Security 1)
18/10/201819/10/201805/10/202125 000More info | CompletedrealizedSI - Niger 18/10/2018
T-Bond
SI (Security 2)
18/10/201819/10/201813/07/202325 000More info | CompletedrealizedSI - Niger 18/10/2018
T-Bill
SI (Security 3)
04/10/201805/10/201803/10/201915 000More info | CompletedrealizedSI - Niger 04/10/2018
T-Bond
SI (Security 4)
04/10/201805/10/201805/10/202115 000More info | CompletedrealizedSI - Niger 04/10/2018
T-Bill
SI (Security 5)
27/09/201828/09/201826/09/201925 000More info | CompletedrealizedSI - Niger 27/09/2018
T-Bond
SI (Security 6)
27/09/201828/09/201802/08/202125 000More info | CompletedrealizedSI - Niger 27/09/2018
T-Bill
SI (Security 7)
14/08/201816/08/201814/08/201925 000More info | CompletedrealizedSI - Niger 14/08/2018
T-Bond
SI (Security 8)
14/08/201816/08/201802/08/202125 000More info | CompletedrealizedSI - Niger 14/08/2018
T-Bill
SI (Security 9)
01/08/201802/08/201831/07/201920 000More info | CompletedrealizedSI - Niger 01/08/2018
T-Bond
SI (Security 10)
01/08/201802/08/201802/08/202120 000More info | CompletedrealizedSI - Niger 01/08/2018
T-Bill
SI (Security 11)
12/07/201813/07/201811/07/201920 000More info | CompletedrealizedSI - Niger 12/07/2018
T-Bond
SI (Security 12)
12/07/201813/07/201813/07/202320 000More info | CompletedrealizedSI - Niger 12/07/2018
T-Bond
SI (Security 13)
06/07/201809/07/201809/07/202360 000More info | CompletedrealizedSI - Niger 06/07/2018
T-Bond
SI (Security 14)
06/07/201809/07/201809/07/202560 000More info | CompletedrealizedSI - Niger 06/07/2018
T-Bill
SI (Security 15)
07/06/201808/06/201806/12/201820 000More info | CompletedrealizedSI - Niger 07/06/2018
T-Bond
SI (Security 16)
07/06/201808/06/201823/03/202320 000More info | CompletedrealizedSI - Niger 07/06/2018
T-Bill
SI (Security 17)
17/05/201818/05/201815/11/201820 000More info | CompletedrealizedSI - Niger 17/05/2018
T-Bond
SI (Security 18)
17/05/201818/05/201823/03/202320 000More info | CompletedrealizedSI - Niger 17/05/2018
T-Bill
SI (Security 19)
08/05/201809/05/201807/08/201820 000More info | CompletedrealizedSI - Niger 08/05/2018
T-Bond
SI (Security 20)
08/05/201809/05/201823/03/202320 000More info | CompletedrealizedSI - Niger 08/05/2018
T-Bill
SI (Security 21)
22/03/201823/03/201821/06/201820 000More info | CompletedrealizedSI - Niger 22/03/2018
T-Bond
SI (Security 22)
22/03/201823/03/201823/03/202320 000More info | CompletedrealizedSI - Niger 22/03/2018
T-Bill
SI (Security 23)
19/05/201722/05/201719/11/201725 000More info | CompletedrealizedSI - Niger 19/05/2017
T-Bill
SI (Security 24)
19/05/201722/05/201720/05/201825 000More info | CompletedrealizedSI - Niger 19/05/2017
T-Bill
SI (Security 25)
30/03/201731/03/201728/09/201730 000More info | CompletedrealizedSI - Niger 30/03/2017
T-Bill
SI (Security 26)
30/03/201731/03/201729/03/201830 000More info | CompletedrealizedSI - Niger 30/03/2017