Wedoany.com Report-Dec.19, Gabon intends to launch a new housing tax starting in January to support the financing of national requirements amid ongoing debt growth. The nation is experiencing liquidity constraints, leading to greater dependence on regional capital markets.

Special adviser Marie-Noelle Ada Meyo announced on the Gabon presidency's social media that officials are developing a monthly tax applicable to property owners or tenants.

The collected funds will be allocated by the treasury to enhance public lighting, maintain roads, and improve urban cleanliness, according to Ada Meyo.

The monthly amount will range from 1,000 CFA francs ($1.80) to 30,000 CFA francs ($53.88), depending on the location. Exemptions will apply to the most vulnerable households, educational institutions, and religious sites, she noted.

Data from the World Bank indicates that over one-third of Gabon's population faces poverty conditions. In rural regions, obtaining essential services like water and electricity continues to present challenges.

According to a document issued by Gabon's debt authority on Tuesday, the country's public debt reached 8.6 trillion CFA francs ($15.45 billion) by the end of October, up from 7.1 trillion CFA francs in the corresponding period of the previous year.

This total includes 4.2 trillion CFA francs in external debt and 4.4 trillion CFA francs in domestic debt, with 3.2 trillion CFA francs sourced from the regional financial market.

Outstanding arrears amounted to 443.6 billion CFA francs as of the end of October.