Economic Outline

Economic Indicators

For the latest updates on the key economic responses from governments to address the economic impact of the COVID-19 pandemic, please consult the IMF's policy tracking platform Policy Responses to COVID-19.

In 2022, Chad saw an economic rebound from the pandemic, with the country recording a GDP growth of 3.2%. The country should continue growing in 2023 and 2024, with rates remaining stable at 3.4%. The slight rise in oil price and the start of production at new fields should help the country continue to overcome the impact of the crisis. Gold’s prices are another factor likely to contribute to the good performance of the Chadian economy this year.

In 2022, general government balance closed at 0.8% of GDP in 2022, as the gradual removal of COVID-related spending and the increase of oil receipts boosted the government’s revenues. However, the country's account balance is expected to decrease to a deficit of 2.4% in 2023 and 4.7% in 2024. Following a large fiscal response to the COVID-19 pandemic, the IMF has helped Chad through a facility of USD 183 million and a six months alleviation of the debt of the country. In 2022, the debt-to-GDP ratio decreased to 44.7%, and it should decrease to 38.3% in 2023 and 34.3% in 2024. As for the country's inflation rate, it increased to 4.9% in 2022, and it is expected to reach 3.1% in 2023 and remain stable at 3.1% in 2024.

While the country records a high level of schooling, Chad is still dominated by poverty and strong social inequalities. However, in the past few years, the percentage of poor people has reduced, but the crisis the country now experiences has raised the poverty rate, which reached 42% in 2022. That same year, the unemployment rate in the country was at 1.9%.

Any Comment About This Content? Report It to Us.