In-Depth Analysis
Cameroon
Cameroon has abundant natural resources, but the cumbersome business environment and infrastructure gaps are major obstacles. The coronavirus pandemic will reduce growth prospects and underpin the need for infrastructural development. The centralised power structure keeps political risk elevated, while insecurity in the restive Anglophone regions remains a perennial concern.
Cameroon defied expectations last year as the country managed to weather the Covid-19 outbreak and commodity price slump relatively well. The agricultural and industrial sectors, which showcased commendable resilience in 2020, are again expected to act as the key drivers of growth this year. We forecast real GDP expansion of 3.0% for 2021 as trade recovers and both local and global economic activity ticks up. Despite the relatively positive outlook on growth and trade, Cameroon’s fiscal finance situation raises concerns as public debt continues to accumulate. (Source: Cameroon Annual Country Profile, April 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-4.6 |
|
Consumer Price Index (% change y-o-y, avg) |
2.4 |
|
Current Account Balance (as a % of GDP) |
-4.7 |
|
Real GDP (annual % change) |
-1.0 |
|
GDP per Capita, US$ |
1,536.9 |
|
Import Cover (months) |
5.9 |
|
Population, million |
26.5 |
| Total External Debt (as a % of GDP) |
36.7 |