The Republic of Chad has secured a stable economic outlook from S&P Global Ratings, affirming its commitment to the «Tchad Connexion 2030» National Development Plan. On March 16, the agency maintained the country’s sovereign credit rating at «B-», signaling strong confidence in Chad’s economic trajectory. This decision reflects robust growth, controlled debt levels, and consistent support from international partners, as highlighted by the Ministry of Finance, Budget, Economy, Planning, and International Cooperation.
GDP growth revised upward: from 3.6% to 5.2%
Chad’s economic recovery, which began in 2023, has gained momentum, driven by rising hydrocarbon prices and a rebound in services. By 2025, real GDP growth is projected to reach 5%, according to S&P, up from the 3.6% annual estimate made in December 2024 for the 2024-2027 period. The International Monetary Fund (IMF) has also upgraded its growth forecast for Chad to 5.2%, underscoring the economy’s resilience.
The expansion has been supported by stronger agricultural output and a recovery in non-oil sectors, contributing to a more diversified economy. While oil remains a key driver—accounting for a significant share of exports and public revenue—agriculture and services are bolstering domestic demand. This balanced growth signals progress toward economic stability.
Public debt under control
Chad has made significant strides in managing its public debt, reducing it from high-risk levels in previous years. The current debt-to-GDP ratio stands at around 36%, a moderate figure compared to similar economies. In 2022, Chad became the first country globally to restructure its external debt under the G20’s Common Framework, easing repayment terms.
Concessional loans now represent half of the total debt, offering favorable repayment conditions. This fiscal space enables the government to prioritize investments outlined in the Tchad Connexion 2030 plan, while maintaining a sustainable debt profile. A prudent fiscal policy supports debt sustainability while funding social programs and economic development initiatives.
Boosting domestic revenue collection
Revenue mobilization has improved markedly, a critical pillar of Chad’s ongoing economic reforms. The tax-to-GDP ratio rose from 9.8% in 2022 to 13.1% in 2023, reflecting efforts to broaden the tax base and enhance revenue administration, according to OECD data. This trend continued in 2025, with non-oil revenues exceeding projections, supported by strong non-hydrocarbon activity and measures implemented under the IMF program approved in July 2025 (valued at $625.3 million).
The digitization of public finances and strengthened governance have further enhanced collection efficiency. These advancements reinforce Chad’s financial credibility, making it more attractive to private investors and international partners.
«The confirmation of this rating reinforces Chad’s financial credibility and strengthens its appeal for private investment while reinforcing confidence among international partners in the country’s reform trajectory,» stated the Ministry of Finance.
Key milestones under « Tchad Connexion 2030 »
To sustain its stable rating, Chad must continue advancing economic diversification, improving tax collection, and maintaining sustainable debt levels. Infrastructure development, particularly in basic services, remains a priority. These objectives are central to the Tchad Connexion 2030 National Development Plan, adopted on May 29, 2025, following the country’s political transition that concluded with the election of President Mahamat Idriss Deby Itno in May 2024.
The plan outlines a bold vision: raising $20.5 billion in November 2025 during the Abu Dhabi conference to fund 268 cross-sectoral projects. Over 2025-2030, these initiatives aim to lift 2.6 million Chadians out of poverty by achieving an average annual GDP growth of 8%, increasing the country’s GDP by 60% by 2030.
The plan is structured around four pillars:
- Accelerating infrastructure development: electricity, water, roads, and telecommunications.
- Strengthening social policies: education, healthcare, vocational training, youth employment, and social inclusion.
- Economic diversification: expanding export-oriented sectors such as agriculture, livestock, fishing, hydrocarbons, mining, and tourism, with a focus on local value addition.
- Improving the business environment: streamlining administrative processes to attract investment.
