Although Chad has had relatively few COVID–19 cases, its economy has been hurt by the global consequences of the pandemic. In 2020 real GDP contracted by 0.6%, compared with growth of 3% in 2019 and 2.4% in 2018. The recession is mainly the result of a temporary suspension of oil production, the main engine of the economy, and the closure of borders to contain the pandemic, which caused a slowdown in trade. Inflation, which had fallen in 2019 to 1%, rose to 2.7% in 2020, following the disruption of supply chains for some basic products. The provision of budgetary grants made it possible to contain the budget deficit, despite higher spending to mitigate the pandemic. The budget deficit was 0.8% of GDP in 2020 compared with 0.3% in 2019. The current account deficit worsened from –4.9% of GDP in 2019 to –13.3% in 2020, mainly due to the suspension of oil production and exports in a period of declining oil prices. There are no recent data on poverty, but it is expected to have risen as a result of the pandemic, which disproportionately affected the most vulnerable. In the latest data, from 2018, 42.3% of the population was in poverty, of whom 49.7% were in rural areas. (Download detailed Analysis Source : Report African Economic Outlook 2021 ; AfDB)
In the end of 2017, the banking sector of the Central African Economic and Monetary Community (CEMAC) (Chad member of the CEMAC) represented a total asset of $ 14 billion.
Credit distributed to private sector in 2017 represents $ 13.4 billion.
Amounts invested by private equity represents $ 11 million.