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.
The Cameroonian economy avoided a recession last year, mostly due to its robust industrial sector, while strong commodity prices and increased trade and mobility are expected to give the agricultural and services sectors a welcome boost this year. Our short- to medium term outlook on Cameroon remains relatively positive as multilateral organisations increase their involvement in the country while the global vaccination drive gathers further impetus. Price pressures are also expected to remain modest for the foreseeable future. Local inoculation efforts continue to misfire, though, as scepticism remains rife. Overall, real GDP growth of 3.3% is forecast for 2021. (Source: Cameroon Quarterly Update, October 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-4.0 |
|
Consumer Price Index (% change y-o-y, avg) |
2.4 |
|
Current Account Balance (as a % of GDP) |
-3.4 |
|
Real GDP (annual % change) |
0.6 |
|
GDP per Capita, US$ |
1,499.9 |
|
Import Cover (months) |
6.5 |
|
Population, million |
26.5 |
| Total External Debt (as a % of GDP) |
38.3 |