Known for its oil resources the country Equatorial Guinea is a country on the west coast of Africa. The main country is composed of a mainland and surrounded by five other islands. The island is one of the biggest oil producers in the world but at the same time, the population of the country is still in poverty. The problem mainly lies with the politics in the country where there is constant abuse of human rights happening that is named the biggest damage done to the economy. The helplessness of the people and the abusers taking the higher hand have pushed the country to deteriorate more and more.
The country gained independence after 190 years of Spanish rule and the capital of the country is Bioko. Since 2014 the country has been in recession and due to abusive development the resources have all been deprived and even foreign investment have all been utilized otherwise. At the same time now the rebuilding of the country is being done from the beginning and a large number of international affairs and leadership helping the country to build into a better future.
The country is the smallest and one of the least populated countries has Spanish as its official language. Corruption and mismanagement are all the main problems in the country and even there is an increased number of oil resources at all times. The problem does not end here the oil boom still makes it a difficult one but then the country still has no scope in making a profit one way or the other. There is very little expenditure on education and basic healthcare of people and the living conditions are very much difficult one way or the other.
There are not much job opportunities in the sectors other than oil sector and even though the majority of the population belong to the younger section, they do not have any formal training or ways to make it up for a better future if they are not opting for the traditional oil sector. There is increased immigration in the number of people moving from one place to another which is mainly because they will not be able to make it work here as there is little economic growth.
But the conditions are making an improvement and the situation is gradually changing to facilitate the lives of people more and more. Based on reports when we read what he said it becomes more and more clear as to how the country is making slow progress towards economic strength.