Comores Note de Conjoncture Économique : Un Océan d’opportunités - L’économie Bleue Comme Moteur de Croissance Durable

Overview & Synopsis

Comoros has a rare opportunity to break from its historical cycle of low growth by leveraging recent stability to implement transformative policies that promote inclusive development and resilience. Despite achieving greater stability since reunification, the economy has not broken from its historical pattern of stagnation. Growth has remained persistently weak, keeping per capita income virtually unchanged over time. This prolonged underperformance has left poverty levels stubbornly high, with minimal improvement compared to peer nations. The country’s limited progress has been further exposed by recent global shocks, underscoring the urgent need for transformative policies to spur inclusive growth and build resilience. However, the enhanced stability that the country has recently achieved, coupled with the opportunity to host the 2027 Indian Ocean Island Games, represents a pivotal turning point for driving reform momentum. Addressing Comoros’ macroeconomic and poverty challenges requires focused engagement in four key areas: fiscal sustainability, private sector development, financial inclusion, and governance reforms. First, strengthening fiscal sustainability and debt management is critical to ensuring macroeconomic stability, preventing debt distress, and creating fiscal space for essential social and infrastructure spending. Second, boosting private sector development and export competitiveness can drive job creation, reduce reliance on volatile sectors, and enhance resilience to external shocks. Third, enhancing financial sector stability and inclusion will expand access to credit and financial services, particularly for underserved populations and small businesses, fostering broader economic participation. Finally, improving governance and public sector efficiency is vital to curbing corruption, improving public service delivery, and ensuring that resources are effectively allocated to poverty reduction efforts. Together, these reforms can help Comoros achieve more sustainable and inclusive growth.