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Cameroon eyes 3.1% growth in 2021, after the recession in 2020

Cameroon eyes 3.1% growth in 2021, after the recession in 2020

Paru le lundi, 13 juillet 2020 17:49

The Cameroonian economy is expected to bounce back at 3.1% in 2021, after the bad performance this year due in particular to the coronavirus pandemic.

Real GDP growth is expected at 3.1%, of which 3.3% will come from the non-oil sector and -1% for the oil sector. Authorities expect a gradual recovery of economic activity and an increase in the price of crude oil ($37.87 a barrel).

In the non-oil sector, growth would be mainly driven by the agro-pastoral sector. “In addition, this sector should benefit from a resumption of investment and a better supply of electrical energy,” according to an official statement. Inflation is expected to be in line with the Community norm, remaining below 3%. The headline deficit, including grants, would be below 4% of GDP and the current account deficit including public transfers would be around 3.5% of GDP.

The projected positive performance in 2021 contrasts with that of 2020. During this year, the country expects GDP growth to fall to -1.2%, about 5 points lower than the pre-pandemic projection.

Sylvain Andzongo

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