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CEMAC’s economy is out of the “danger zone”, according to BEAC’s governor

Business in Cameroon | After a difficult 2017 economic year marked by a negative growth of the GDP (-0.1%), the economy of the six member CEMAC countries is gradually recovering.

“We are out of the danger zone. The economic environment is much better but the economies remain weak. This explains the various measures we are adopting”, said Abbas Mahamat Tolli, governor of BEAC at the end of the meeting of the monetary policy committee on March 21, 2018, in Yaoundé.

According to the governor, the slight improvement of the economy is due to the increase of commodity prices on the international market and of the production of crude oil. It is also due to the implementation of the economic, monetary and financial reforms prescribed in the Programme des réformes de la Cemac (Pref-Cemac) and of the programmes concluded with IMF by four member countries namely Cameroon, Chad, Gabon and Central Africa.

This year, BEAC forecasts a 2.1% of the GDP, against the -0.1% recorded in 2017. In the same document, it reveals that the inflationary pressure should stand at 1.8% against a community standard of 3%. As far as the external coverage rate of the currency (whose fall led to fears of depreciation some months ago) is concerned, it will rise to 64.2 %, from 57.5% in 2017.

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10 comments

  1. The import cover will not rise (what they term coverage rate) only God know which translators work in this Larepublique government with. A BEAC that cannot communicate in English. The Trade deficit of the FCFA zone is such that import cover cannot climb at the same time as inflation.
    And note that this is without the loss of productive output coming from Ambazonia.
    I promise you another year without GDP growth.
    Only fools will be fooled by this nonsense.
    Come back next year and I will tell you “I told you so”

  2. i am sometimes shocked by the level of ignorance of nearly all african economist who recite aryan economic theories internalized from la sorbonne,and havard.looking at the passion with which they defend such theories,one has the impression it is miraculous medicin that works without scientific explanation.what they do not see because of the nature of their education is that,this theories have led those they take as references to economic defeat.
    there is no real economic growth that can transform the lifes of odernary people without industry.it is the base,whether a country has trillions of oil reserves changes nothing.i often hear our super degree holders associating economic development to attracting tourist.but this is a trap intelligently set on our path by the enemy.

  3. there are three primary sectors of the economy that must first be mastered and brought under control.the first is agriculture,the second industry created by the first,and the third conservation and commercialization created by the seconde.in oder to master this three sectors,it is indispensable to master two things,water and energy.it is the cost of energy and water that determines how competitive a countries industrial sector is.more than 80% of the production of one kilo of flour is consumed by energy and water.the wages of workers is below 5%.for example,if i produce hydro electricity from a water fall in NJAH-ETU,and my competitor buys energy from a private company.i can sell one kilo of flour at his production price without workers wages.reason being that i produce my engery cheap.

  4. The CameroUns is very unsafe for business, to live students, in short it’s the dangerous place in Africa

  5. A Glimmer of Good News from an Otherwise Backward part of Continental Africa! Cameroon , Gabon and Chad are the three countries supporting this Regional Economic Block. Central African Republic, Congo and Equatorial Guinea are creating a dragging everyone down!

    • There are enlightened men and women on this platform, 60% of ALL BEAC RESERVES belong to Equatorial Guinea, you cannot list it and Central African Republic in the same sentence. In fact of all the countries in CEMAC only Central African republic and Cameroon had a trade deficit last year, the rest had trade surplus.
      La Republique is condemned

      • AM talking about policy , Free Trade and The freedom of movement of Goods and People! Equatorial Guinea is contributing money but the heart and mind doesn’t like others coming to their country and Congo Brazzaville is dragging its legs too on the CEMAC passport or free trade issue! Central African republic is a country at war and they need to get their house in other before worrying about trade issues !

        • Free movement of goods and services is fantastic BUT this must be the will of a people, reflected by a decision that reflects such a will rather than policy imposed by inebriated leaders at the end of their circus!!!!!! First unite the minds, and then encourage movement.