The minimum monthly wage in Guinea-Bissau is 30 USD. Guinea-Bissau has a government debt of 30.34% of the country's Gross Domestic Product (GDP), as assessed in 2014. With regard to consumer prices, the inflation rate in Guinea-Bissau is 1.9%. The currency of Guinea-Bissau is West African CFA Franc. The plural form of the word West African CFA Franc is CFA francs. The symbol used for this currency is Fr, and it is abbreviated as XOF. The West African CFA Franc is divided into centime; there are 100 in one CFA Franc. The corporate tax in Guinea-Bissau is set at 25%. Personal income tax ranges from 2% to 20%, depending on your specific situation and income level. VAT in Guinea-Bissau is 15%. In 2013, Guinea-Bissau received 78.8 million USD in foreign aid.In 2014, the foreign aid amounted to 119.6 USD.
Gross Domestic Product
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Guinea-Bissau is $2,532 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Guinea-Bissau was last recorded at $1,327,553. PPP in Guinea-Bissau is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Guinea-Bissau is 1,036 billion. Based on this statistic, Guinea-Bissau is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Guinea-Bissau was last recorded at $543,185. The average citizen in Guinea-Bissau has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Guinea-Bissau averaged 2.6% in 2014. According to this percentage, Guinea-Bissau is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.
