Cameroon's economy prospects remain favourable

According to the national Monetary and financial Committee in Cameroon, half way through the year 2014, "evolution of Cameroon's economy prospects remain favourable, taking into account the huge potential of the country.

We thus learned in a press release that as stated in the last meeting, the structure with the assistance of the Central Bank and regulator of the banking market of the Cemac (Cobac) area, evaluates the economic performance of the six Member States of the community. As per their report "the year 2014 (in Cameroon) could result in better performance than planned initially, in conjunction with the improvement in the implementation of the investment budget and the progression of exports of crude oil".

With this reality, this Committee believes that the rate of growth of GDP in Cameroon could eventually reach 6%, as hoped for by the Government. This was recently announced as part of an emergency plan to achieve this goal at the end of the year, corresponding to an increase of 1.2% compared with the 4.8% forecast in the Finance Act of the Cameroonian State, adopted by the Parliament in November 2013.

This performance underlines the national Monetary and financial Committee of Cameroon, would be then made possible by a "control of inflation" in the country in the coming months, "thanks to a limited increase of food prices, despite the recent increase in fuel prices.