Standard & Poor’s decision to uphold Chad’s sovereign credit rating at «B-» with a stable outlook on March 16 validates the government’s economic strategy under the «Tchad Connexion 2030» National Development Plan. «This rating reflects the agency’s confidence in the country’s economic momentum, driven by strong growth, manageable debt levels, and consistent support from international partners», declared authorities from the Ministry of Finance, Budget, Economy, Planning, and International Cooperation, which shared the news.
Growth forecasts rise from 3.6% to 5.2% amid economic recovery
The country’s economic landscape has steadily improved since 2023, fueled by recovering hydrocarbon prices and a rebound in services. By 2025, Chad’s real GDP growth is projected at 5%, according to S&P, exceeding earlier estimates of 3.6% annually between 2024 and 2027 by 1.5 percentage points.
The International Monetary Fund (IMF) also revised its growth outlook upward in December, forecasting a 5.2% increase for Chad. This upward revision stems from stronger agricultural output and a revival in non-oil sectors, though the oil industry remains pivotal, contributing significantly to exports and public revenue. Meanwhile, agriculture and services bolster domestic demand.
Public debt remains well within sustainable limits
Chad has made remarkable strides in reducing its public debt vulnerability. The debt-to-GDP ratio now stands at around 36%, a moderate level compared to neighboring economies. In 2022, Chad became the first country globally to utilize the G20’s Common Framework for debt restructuring, significantly improving its debt profile.
Concessional debt—loans with favorable repayment terms—now accounts for half of the total debt, enhancing Chad’s financial maneuverability and making its debt profile more attractive to investors. This progress aligns with the objectives of the «Tchad Connexion 2030» plan, enabling the government to pursue major initiatives while maintaining fiscal prudence and ensuring debt sustainability. Authorities continue to implement cautious fiscal policies, balancing debt management with investments in social programs and infrastructure.
Revenue mobilization strengthens amid ongoing reforms
Significant progress has been made in domestic revenue mobilization, a cornerstone of Chad’s economic reform agenda. The tax-to-GDP ratio, though still modest, rose from 9.8% in 2022 to 13.1% in 2023, according to OECD data, reflecting efforts to broaden the tax base and improve tax administration.
This positive trend continued into 2025, with non-oil revenues surpassing projections. Growth in non-hydrocarbon sectors and measures implemented under the IMF program approved in July 2025—totaling $625.3 million—have supported this momentum. Digitalization of public finances and enhanced governance have further boosted collection efficiency.
«The confirmation of this rating reinforces Chad’s financial credibility and serves as a key asset in attracting private investment while strengthening confidence among international partners in the government’s reform trajectory», noted officials from the Ministry of Finance.
Tchad Connexion 2030 unlocks transformative economic potential
While S&P’s stable rating underscores Chad’s progress, key areas like economic diversification, revenue mobilization, and debt sustainability still require consolidation. The same applies to infrastructure development, all of which are central to the «Tchad Connexion 2030» National Development Plan.
Adopted on May 29, 2025, by the Council of Ministers following the political transition that began after the passing of President Idriss Déby Itno in April 2021 and concluded with the election of President Mahamat Idriss Déby Itno in May 2024—after the adoption of a new Constitution and a national reconciliation dialogue—the plan signals Chad’s ambition to emerge as a dynamic economy.
In November 2025, Chad secured $20.5 billion in funding from public and private partners in Abu Dhabi to finance this strategic vision. Structured around 268 cross-cutting projects, the plan aims to lift 2.6 million Chadians out of poverty by 2030 through an average annual growth rate of 8% between 2025 and 2030, projected to increase the country’s GDP by 60% by the end of the decade.
The plan is organized around four strategic pillars, implemented through 17 programs encompassing 268 projects and reforms:
- Accelerating the development of critical infrastructure: energy, water, transportation, and telecommunications.
- Enhancing social policies in education, health, vocational training, youth employment, and social inclusion.
- Diversifying the economy by strengthening export-oriented sectors in agriculture, livestock, fishing, hydrocarbons, mining, and tourism, with a focus on local value addition.
- Improving the business environment through administrative simplification and regulatory reforms.
