Business › Energy

Insecurity, crude oil crisis slows Cameroon’s economy

Sideview of Cameroon's capital city, yaounde ©All rights reserved

Negative impact of economic recession in Nigeria, crude oil crisis in CEMAC zone and insecurity crisis in Cameroon’s Anglophone regions has slowed down it’s economy, the African Development Bank, AFDB, has said.

The bank posits that Cameroon’s growth will however still stand at 4.1% and 4.8% in 2018 and in 2019 respectively despite showing early signs of a slowdown.

Going by the bank, the slightly improved growth rate is due to increased  exports to Europe following the Economic Partnership Agreements (EPA) and increased energy supply due to new hydroelectric dams.

Other tailwinds affecting growth include the development of forestry and agro-industrial value chains, as well as a reduction in imports in favor of local products.


Tips
Published on 28.04.2020

How to observe the holy month of Ramadan

Ramadan commemorates the first revelation of the Quran to Muhammad according to Islamic belief. This annual observance is regarded as one of the Five Pillars…

More
Subscribe

Subscribe to Journal du Cameroun newsletter and receive all news stories free of charge

Back top