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# [MADAGASCAR] Growth revised to 6% in 2026: oil, services and private investment drive the momentum
- URL: https://businessoi.media/en/madagascar-croissance-revisee-a-6-en-2026-petrole-services-et-investissements-prives-portent-la-dynamique-en/
- Published: 2026-09-03T02:49:00.000Z
- Updated: 2026-09-03T02:49:00.000Z
- Description: Madagascar revises its 2026 growth from 4.8% to 6%, driven by services, the oil sector and private consumption. The island confirms its trajectory and investment opportunities.
- Author: Emmanuel TAOCHY
- Tags: Madagascar, Économie, Investissement, Revue matinale, #en

Madagascar's Ministry of Economy and Finance has revised its 2026 growth forecast upward: GDP growth is now expected at **6%**, versus the 4.8% initially set in the Finance Law. A significant revision underpinned by services expansion, oil sector development and a rebound in domestic consumption.

## Three engines behind the revision

The Malagasy government identifies three main drivers. First, **services growth** — trade, telecoms, finance — which carries a growing share of formal economic activity. Second, **expansion in the oil and gas sector**, whose ongoing projects are attracting international investors. Third, a **recovery in private consumption**, supported by diaspora remittances and declining inflation.

## A favourable regional context

This upward revision fits a favourable regional momentum. Madagascar had already posted **6.1% growth** in 2024, before an anticipated slowdown to 4.8% early in 2026\. The return to 6% confirms a structural trend. According to Africa24, authorities describe the outlook as « encouraging for the national economy » and note that the revision also aims to « attract investors » in an increasingly competitive regional environment for capital.

## Structural challenges remain

Despite this positive dynamic, Madagascar still faces significant structural challenges: limited electricity access (fewer than 30% of the population), degraded road infrastructure, commodity dependence and exposure to climate shocks. The 6% forecast assumes a favourable scenario — any external shock (climate, geopolitical or financial) could reduce its magnitude.

## Why it matters

For Indian Ocean investors, Madagascar growing at 6% represents one of the region's most dynamic markets. Services, digital and renewable energy sectors offer opportunity windows that the new US-Madagascar partnership further opens. The island remains under-invested relative to its potential — a gap regional decision-makers would be wise to close before international competition moves in.

*Sources: Africa24, Ministry of Economy and Finance of Madagascar, African Development Bank — January 2026.*