Mauritania’s Council of Ministers has approved a 2027 draft finance bill projecting a 5.0% real national economic growth rate, balancing an expected budget surplus against heavy exposure to international commodity markets and global energy tensions, Financial Afrik reported.
The financial framework, adopted during a cabinet meeting chaired by Mohamed Ould Cheikh El-Ghazouani, anchors public spending in the government’s “Mon Ambition pour la Patrie” presidential program and the 2016–2030 Accelerated Growth and Shared Prosperity Strategy (SCAPP). Officials project total revenues and grants at 152.11 billion MRU against 145.91 billion MRU in expenditures and net loans, leaving an anticipated global budget surplus of 6.20 billion MRU.
The New Non-Extractive Fiscal Rule
For the first time, the budget applies a strict budgetary rule established by an organic law passed in June 2026. This rule caps the primary deficit excluding extractive revenues—encompassing gold, iron ore, and emerging gas projects—at 3.5% of nominal GDP. The measure aims to insulate state spending from the inherent volatility of commodity markets.
Under this mechanism, the non-extractive primary deficit, including grants, is slated to hit 21.03 billion MRU, or exactly 3.5% of GDP. This marks an adjustment from the 22.18 billion MRU deficit, equivalent to 4.0% of GDP, recorded in 2026.
| Fiscal Indicator (2027 Budget) | Amount / Projection |
|---|---|
| Projected Real GDP Growth | 5.0% |
| Projected Inflation Rate | 3.3% |
| Total Revenues and Grants | 152.11 billion MRU |
| Expenditures and Net Loans | 145.91 billion MRU |
| Expected Global Budget Surplus | 6.20 billion MRU |
| Non-Extractive Primary Deficit (GDP %) | -3.5% (21.03 billion MRU) |
Targeted Investments and Social Spending
Cridem reported that the budget allocates substantial capital toward structural and productive infrastructure, including 25.44 billion MRU designated for productive sector support hubs. This allocation covers the development of a deep-water port and a wastewater treatment plant tailored to the fisheries sector in Nouadhibou.
Additional capital expenditures target water and sanitation at 4.63 billion MRU, roads and transport at 3.06 billion MRU, and urban modernization at 3.03 billion MRU. On the social front, funding for the Aoun assistance initiative increased by over 6 billion MRU, while direct monetary transfers destined for vulnerable households received a 1.6 billion MRU boost.
External Vulnerabilities and Diverging Forecasts
Despite the positive macroeconomic projections, the cabinet acknowledged that the budget remains vulnerable to external shocks, citing persistent geopolitical tensions in the Middle East, potential fluctuations in global gold and energy prices, and possible delays in investment execution.
Webmanagercenter noted a divergence between national forecasts and international institutions, pointing out that the International Monetary Fund projected a more conservative 4.5% growth rate for Mauritania in 2027 during consultations held earlier in the year. The draft finance bill now moves to the National Assembly, where lawmakers will debate its implementation parameters in the coming weeks.
