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.