Guinea Plans to Boost Spending in 2012 Budget, Minister Says

Guinea plans to increase spending to 11.5 trillion Guinean francs ($1.59 billion) in 2012 as government revenue climbs, Budget Minister Mohamed Diare said.

“The main part of those resources will be allocated to agriculture development, parliamentary elections, energy and roads,” Diare told lawmakers, according to a statement handed to reporters today in Conakry, the capital.

The National Transitional Council, the country’s legislative body, approved in October revised budget spending of 10.1 trillion francs for 2011.

Revenue in the West African nation is forecast to jump to 9.5 trillion francs next year from 6 trillion francs, Diare said. The economy will probably expand 4.7 percent in 2012, he said.

To contact the reporter on this story: Ougna Camara in Conakry at ocamara@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net

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