immediate task of overcoming not only the colonial legacy of the country but alsothe devastating effects of the policies of the previous r69ime. It has takenlonger than expected to move from ad hgc crises management to the more del.iberateplanning of economic policy. The iffi-snorcage of trained personnel has and coneinues to cornplicate this process. At the end of 1984, however, the Governmentundertook courageous measures, which will result in greater nonetary and fiscaldiscipline, and began a process of formulating a comprehensive development plan inclose consultation with its major development partners. B. National accounts 1. Gross domestic product 11. Reliable data on gross domestic product (GDP) are not available. The Government has estimated that in 1984, GDp amounted to 22,912 miltion bipkweler*(approximately $US 74.3 nillion), with a resultant per capita cDp of 024L, one ofthe lowest in Africa. It is estinated that during the period under review, realper capita incqne declined, reflecting both the sluggishness of the econony and therelatively high population growt,h rat,e. 12. Agriculture accounts for more than 50 per cent of GDP, and construction,public works and services about one third. The manufacturing sector which consietsprirnarily of some wood, food and cocoa processing accounts for nearly 5 per cent.Commercial activiti.es contribute approximately 10 per cent of GDp. The aboveestimates must be read bearing in mind that, the vast najority of the population isengaged in non-commercial subsistence activities which cannot be either accuratelymeasured or valued. 2. Public finance 13. From 1974 to 1979, Equatorial Guinea did not have ancurrent Governnent reintroduced formal budgeting in l9g0; expenditures continued at a significant level during therecently been curtailed.official budget. The however, extrabudgetaryinitial years and has only * Until the end of 1984, t.he local currency of Equatorial Guinea was theekwele (plural bipkwele). The official exchange rates are indicated below;however, it should be noted that there q,as an active parallel narket during thisperiod on which the ekwele rr,as exchanged at a high discount.
**Analysis**
The text discusses the economic situation of Equatorial Guinea, providing data on gross domestic product, national accounts, and public finance. It highlights the challenges the country faces in overcoming the colonial legacy and the devastating effects of previous policies. The text also touches on the country's economy, including the agriculture and manufacturing sectors, but does not discuss natural resources, environment, health, education, employment, humanitarian aid, culture, or science and technology.

**Category**
Economic development, Industry