Cameroon projects a growth rate of 5.9% in 2014

The growth rate of the real gross domestic product (GDP) in Cameroon should be at 5.9% in 2014, against the initially projected 5.4%, according to a memo released Thursday by the national monetary and financial Committee.

This institution also reveal inflation to be under control, thanks to a limited increase in prices of food products; despite the recent adjustment in the price of fuel at the pump. The prospects for the country's economy "remain therefore favourable," according to the address, taking into account the potential available to it but which remains "in a State of hibernation, due to few bottlenecks.

This instance thus proposes an intensification of the fight against corruption with new tools that are electronics and information technology, and urged the authorities to "fight harder against smuggling and counterfeiting, which are gradually corrupting the economic fabric and threaten certain sectors due to their activities".

In the same vein, the CMFN committee called for a provision of necessary investments to increase the national capacity of electricity to about 3 million kilowatts, according to simulations, to achieve a growth rate of about 9.5% in real terms from 2018.