Guinea earmarks 5,499 billion francs for fuel
By the AFREEQUE newsroom, based on Guinee360
The Guinean government has earmarked 5,499 billion Guinean francs to keep a litre of fuel at 12,000 GNF, while public investment falls by 2,729 billion. The measure raises the projected budget deficit from 0.7% to 2.01% of GDP, according to figures presented by Minister Mariama Ciré Sylla.
The Guinean government plans to allocate 5,499 billion Guinean francs to support petroleum product prices and keep the price of a litre of fuel at 12,000 GNF. Economy, Finance and Budget Minister Mariama Ciré Sylla presented the allocation to MPs on Saturday 24 October as part of the 2026 supplementary finance bill, according to Guinee360.
The aid represents about 10% of projected tax revenue. Mariama Ciré Sylla said the commitment represented a considerable effort for the public finances, amid tensions in international markets and rising supply costs.
The bill also provides for a reduction of 2,729 billion GNF in investment spending. The cut notably affects projects under the Simandou 2040 programme, whose timetable must be revised to prioritise operations that are sufficiently advanced, according to the minister.
The measure is part of the revision of the 2026 budget announced on 24 October to protect purchasing power, notably keeping fuel at 12,000 francs.
