YAOUNDE, Aug. 2 Xinhua | Cameroon’s economy will grow at 4.1 percent this year and 4.2 percent in 2020 despite rising security challenges in the country, a mission of experts from Economic and Monetary Community of Central Africa (CEMAC) predicted Friday.
“Important developments have been noticed in several economic indicators, which showed the economic reforms in the country are moving on the right track,” Jean Claude Ngeumeni, head of the CEMAC mission told reporters in the capital Yaounde on Friday after a 10-day evaluation mission in the country.
It is important for Cameroon to reduce public spending and create more investment-friendly environment in a bid to create more jobs and enhance the economy, according to the CEMAC mission.
In June, Cameroon Association of Employers warned that crisis in the country’s two English-speaking regions where armed separatists want to create an independent nation will “seriously” affect the economy in the long run if a solution is not found “fast enough”.
Cameroon’s economic growth rate was 4.1 percent in 2018 against 3.5 in 2017, according to CEMAC statistics.