BEAC cuts 2014 growth forecast to 4.9 pct

The central bank of the six-nation Central African monetary union (BEAC) cut its growth forecast for the region to 4.9 percent for this year, versus an earlier estimate of 5.6 percent, it said in a statement on Friday.

"Due mainly to the effect of the fall in oil prices, the updated forecasts for 2014 show growth of 4.9 percent versus an earlier forecast of 5.6 percent, and against growth of 1.3 percent in 2013," the statement said.

BEAC is the central bank of the Central African Economic and Monetary Community (CEMAC), which groups Cameroon, Chad, Congo Republic, Equatorial Guinea, Gabon and Central African Republic (CAR). The first five of these nations are oil producers.