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 has been experiencing some economic headwinds over the last quarter such as lower international oil prices (Cameroon is a net-oil exporter), being stripped of the right to hold the 2019 Africa Cup of Nations, ongoing political unrest in the Far North, North West and South West provinces of the country, and lower agricultural output. Yet, the industrial sector is expected to boost GDP growth this year thanks to recent repairs to the national oil refinery, which is expected to lift refined petroleum output, and production at the new offshore natural gas plant. Meanwhile, foreign reserve accumulation in Cameroon and the rest of the Cemac region is under pressure. It is imperative for all Cemac nations to contain its fiscal and current account deficits to preserve reserve accumulation and protect the franc's peg to the euro. (Source: Cameroon Quarterly Update, February 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-3.4 |
|
Consumer Price Index (% change y-o-y, avg) |
0.9 |
|
Current Account Balance (as a % of GDP) |
-1.5 |
|
Real GDP (annual % change) |
3.8 |
|
GDP per Capita, US$ |
1,551.5 |
|
Import Cover (months) |
5.3 |
|
Population, million |
24.7 |
| Total External Debt (as a % of GDP) |
30.2 |