Cameroon Economic Forecast

Cameroon Economic Outlook

February 25, 2020

GDP growth accelerated to 4.2% year-on-year in the second quarter of last year, after growing 3.5% in the first quarter. Quicker private consumption spearheaded the expansion, despite armed conflict in the English-speaking regions and the Boko Haram insurrection, and was further boosted by upbeat capital investment amid strong activity in the private sector. On the flipside, the external sector fared poorly as a jump in imports more than offset a rebound in exports. Meanwhile, the parliamentary and municipal elections held on 9 February were marred by low voter turnout and boycotts in some Anglophone communities. While an official result is still pending, the ruling People’s Democratic Movement is poised to be the biggest winner.

Cameroon Economic Growth

Growth is expected to accelerate this year on a pick-up in export growth. Moreover, domestic conditions should remain relatively healthy, as large infrastructure projects boosts fix investment, while solid household spending growth further supports the expansion. Protracted armed conflict in the Anglophone regions of the country cloud the outlook, however. FocusEconomics analysts see economic growth at 4.1% in 2020, which is down 0.1 percentage points from last month’s forecast, and at 4.4% in 2021.

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