Cameroon Economic Forecast

Cameroon Economic Outlook

May 21, 2019

Cameroon’s economy decelerated somewhat through last year-end (Q4 2018: +4.5% year-on-year). Household spending is expected to have taken a beating amid the ongoing armed conflict in the English-speaking regions and Boko Haram insurgency. Moreover, despite the nascent recovery in oil and gas output, the late-year oil-price correction looks to have bruised export growth. More recently, on 4 May, the IMF concluded the fourth review of its Extended Credit Facility on an upbeat note, commending the government’s progress on fiscal consolidation and market-oriented reforms to diversify the economy away from oil and gas; its executive board is expected to approve the deployment of a fifth disbursement (USD 77 million) in June.

Cameroon Economic Growth

Economic activity is expected to cool off this year amid the ongoing armed conflict. That said, domestically, improved electricity supply should support household spending and fixed investment. Exports, meanwhile, are poised for a turnaround as new projects come online to buttress oil and gas output. FocusEconomics analysts see growth at 4.1% in 2019, which is down 0.1 percentage points from last month’s forecast, and at 4.4% in 2020.

Cameroon Economy Overview

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