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’s economy is set to experience its worst year in recent history as the Covid-19 crisis and ensuing commodity price slump are severely impeding growth prospects this year. The combined impact of a sharp fall in both oil and non-oil tax revenues along with increased health and economic spending will result in a significant widening of the fiscal deficit this year. Substantial fiscal pressures and limited fiscal space will lead to a sizable rise in public debt levels, while lower prices for Cameroon’s key commodities, softer external demand, dissipated tourism receipts and weak current transfers all add to the country’s woes and will see the external position weaken markedly in 2020. (Source: Cameroon Quarterly Update, October 2020.)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-2.3 |
|
Consumer Price Index (% change y-o-y, avg) |
2.5 |
|
Current Account Balance (as a % of GDP) |
-3.9 |
|
Real GDP (annual % change) |
3.9 |
|
GDP per Capita, US$ |
1,497.3 |
|
Import Cover (months) |
5.1 |
|
Population, million |
25.9 |
| Total External Debt (as a % of GDP) |
32.3 |