Cameroon Economic Forecast

Cameroon Economic Outlook

April 26, 2022

Economic growth moderated to 4.0% in the third quarter of 2021 from 4.2% in the second quarter on the back of softer consumption, while continued separatist violence and tensions likely weighed on the economy as well. Despite a lack of data for the fourth quarter of last year, it is likely that the economy will have continued to feel the pinch from Islamist insurgency and tensions in the English-speaking regions, where separatists have waged war since 2017. Ethnic violence continued into the first quarter of this year. In early March, the government deployed troops in the country’s North West region in response to skirmishes between the Essu and Mbororo ethnic groups. The recent clash exacerbates the threats posed by Anglophone separatists; the Mbororo people have been on the receiving end of violence after refusing to support the separatist push for independence.

Cameroon Economic Growth

Growth in the economy should accelerate this year as the impact of the pandemic fades and new hydroelectric dams come on line, buoying electricity supply. The latter will, in turn, support agricultural and industrial activity. However, the outlook is clouded by lingering Covid-19 uncertainty amid a low domestic vaccination rate and elevated sociopolitical violence. FocusEconomics panelists see GDP expanding 4.0% in 2022, which is unchanged from last month. In 2023, the panel projects GDP to expand 4.4%.

Cameroon Economy Overview

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