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Republic of Madagascar

Madagascar

Madagascar Economic Outlook

Real GDP grew 4.2% in 2022, down from 5.7% in 2021, due to the effects of tropical storms and cyclones, the COVID-19 pandemic, and Russia’s invasion of Ukraine. Growth was boosted by the mining sector (up 23.6%) and the recovery in tourism, especially the hotel and restaurant sector, on the supply side and by investment (23.4% of GDP) and higher exports on the demand side. Inflation reached 8.1% in 2022, driven by higher energy and food prices. To mitigate the effects of inflation, the government capped the price of basic products (rice, sugar, cement), raised government employee wages 17% on average, and reduced the value added tax on fuel from 20% to 15%.

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Key Facts

Flag:
Madagascar flag
Capital:
Antananarive
Population 2023:
26.6 million
Date of membership:
3 May 1976
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Bank intervention strategy

  • Priority area 1 - Developing energy and transport infrastructure to support inclusive growth.
  • Priority area 2 - Supporting agricultural transformation and the development of the manufacturing industry.

The Bank focus on Priority Area 1 aims at strengthening economic competitiveness and improving the quality of life by promoting job creation through resilient and low-carbon energy and transport infrastructure development projects.

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Videos

News and Events

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From left, AUC Acting Director for Diaspora Affairs Ms. Betty Mupenda Wangozi, AfDB lead program coordinator Abibu Tamu and IOM Ethiopia’s Director for the Special Liaison Office Mariama Mohamed Cisse at the Addis Ababa signing ceremony for a $3.9 million grant to tap the African diaspora’s skills and capital.
02-Dec-2023

Multinational: African Development Bank, partners launch $3.9 million project to help catalyse diaspora investment in eight African countries.

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Ravokatra Fidiniavo, Madagascar's Minister for Water, Sanitation and Hygiene, delivering his speech.
03-Oct-2023

Madagascar: African Development Bank and the Government join forces to secure water access and strengthen climate change resilience

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18-Sep-2023

Madagascar: African Development Bank launches digital platform to drive business linkages.

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Madagascar's President Andry Rajoelina (right) has won the 2023 Babacar Ndiaye Super Prize.
04-May-2023

Madagascar's President Andry Rajoelina named winner of 2023 Babacar Ndiaye Super Prize

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From left: Mamy Razakanaivo, Executive Secretary of the CPGU; World Food Program Madagascar Country Director Pasqualina Di Sirio; Madagascar Minister of Agriculture and Livestock Harifidy Ramilison; UK Ambassador to Madagascar David Ashley; AfDB Madagascar Country Manager Ada Amoumoun; UN Assistant Secretary General and ARC Group Director General Ibrahima Cheikh Diong; ARC Ltd Head of Government Services for East and Southern Africa Koffi Konin; Madagascar Minister of Economy and Finance Rindra Hasimbelo Rabarinirinarison; AfDB Programme Officer Fatoumata Camara; and General Secretary of the Malagasy Government Indriamanga Rakotoarisoa at the handover ceremony.
02-May-2023

Madagascar: African Risk Capacity Group-African Development Bank partnership issues $1.5 million insurance pay-out for Tropical Cyclone Freddy recovery efforts

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Marovoay District (Boeny region): Distribution of input kits to beneficiaries by the African Development Bank's country representative in Madagascar, Adam Amoumoun (left foreground)
25-Apr-2023

Madagascar: African Development Bank to invest $20 million to boost agricultural output

Publications

Selected Projects

Resources

Knowledge Products

Environnement de l’investissement privé dans les pays de la communauté économique

Documents

Useful Links

Contacts

Madagascar Country Office

 

Mr Adam Amoumoun, Country manager

 

Groupe de la Banque africaine de développement
Rue Ravoninahitriniarivo
Tour Zital – 8ème Etage - Ankorondrano
BP 1718 Analakely
Antananarivo 101, Madagascar

 

Tél : (261) 2022 643 61, 202264189  Ext. 6000-6029
Fax : (261) 2022 642 32

Regional Development, Integration and Business Delivery Office (RDIB)

 

Executive Director, Mr. Brahim BOUZEBOUDJEN

 

Senior Advisor, Mr. Mohamed MESSOUCI

 

Advisor, Ms. Haingotiana Liliane RAJEMISA

 

Alternate Executive Director, Mr. Alfredo Paulo MENDES

 

African Development Bank Group
339 Witch-Hazel Avenue
Highveld Ext. 78
Centurion, South Africa

 

Tel: +27 12 003 6900