CMR economic growth stands at 5.1% - World Bank

Last Tuesday, the World Bank (WB) published its report on the global economic Outlook 2015. This revealed an overall improvement in the economic growth despite the downside risks related to divergent trends.

The revival of growth, particularly in developing countries, was linked to "the weak oil prices, to the recovery of the U.S. economy, the low rate of global interest and the easing of the turmoil that rocked several major emerging markets", according to the findings of the World Bank. Concerning Cameroon, the group report shows stable economic growth at 5.1% and the Government plans at 6.2% in 2015.

In Cameroon, in fact, economic growth is somewhat affected by the security challenges and health problems in the eastern region and the northern border of Cameroon. These influenced the choice of the 2015 budget guidelines. "Unforeseen situations compromised the continuation of the Government decision to run large current industrial development projects and the launch of new ones", indicated the Minister of Finance, Alamine Ousmane Mey, on November 28 when facing national representation. He was however, precise on the prospects of the country for 2015.

Anyway, according to the World Bank report, "the economic environment is uncertain. It is therefore essential that countries clear all unnecessary obstacles that threaten investment by the private sector. "The latter is by far the primary source of jobs which help millions of people out of poverty", according to Jim Yong Kim, president of the World Bank Group.

The report indicated that trade worldwide is expected to remain sluggish in 2015. Commodity prices should also remain low. Although the fall of crude oil prices observed since the second half of 2014 still has not improved. "A decline that will lead to significant shifts of real incomes in developing countries exporters and importers of oil."