In-Depth Analysis
Cameroon
Cameroon is a country with abundant natural resources, but the cumbersome business environment and infrastructure gaps are major obstacles. The centralised power structure keeps political risk elevated at a time of increasing demands for autonomy from the English-speaking region.
Cameroon’s real GDP growth is forecast to rebound to 4% this year. The expectation of higher economic growth is underpinned by higher international oil prices which should boost earnings in the industrial sector, more construction related to preparations for the 2019 Afcon, as well as greater public and private investments to meet the country’s many infrastructure needs. Greater oil revenue and strong efforts to mobilise non-oil revenue will help to create fiscal room for public investment spending. The government needs to cut spending to preserve fiscal sustainability, but we still expect expenditure to increase this year – albeit at a slower pace than revenue. Meanwhile, inflation is forecast to remain low at 1% and the current account deficit is expected to remain roughly stable around the 3% of GDP position. (Source: Cameroon Annual Country Profile, August 2018.)
Macroeconomic Data
(2017)
|
Fiscal Balance (as a % of GDP) |
-4.2 |
|
Consumer Price Index (% change y-o-y, avg) |
0.6 |
|
Current Account Balance (as a % of GDP) |
-2.9 |
|
Real GDP (annual % change) |
3.2 |
|
GDP per Capita, US$ |
1,444.9 |
|
Import Cover (months) |
5.4 |
|
Population, million |
24.1 |
| Total External Debt (as a % of GDP) |
26.9 |