Govt predicts 6.3% GDP growth rate in 2015

The growth of the gross domestic product (GDP) of Cameroon continued its consolidation this year where it stood at 5.8%. After a performance of 5.5 per cent in 2013 and 4.6% in 2012, Cameroonian Prime Minister Philemon Yang indicated that the growth will be 6.3% in 2015.

According to figures provided by Cameroonian Prime Minister Philemon Yang to the National Assembly this week, Cameroon achieved a growth of the gross domestic product (GDP) of 5.8% in 2014 with a slight increase from 2013 and a remarkable increase from 2012.

It is indeed a growth slightly higher than the average of 5.7% of the economic and Monetary Community of Central Africa (Cemac), regional organization to which Cameroon belongs with the Congo, Gabon, Equatorial Guinea, the Central African (car) and Chad Republic. This result is however a poor performance compared to the 6 per cent target originally set by the authorities.

For Prime Minister Philemon Yang, this development is due, on the one hand, to the displeasure of the world economic situation resulted in a decrease of 3.3%, international monetary fund sales growth, and secondly, to a tense climate in the North with the attacks of the Nigerian sect Boko Haram and in the East affected by the Central African crisis.

For 2015, the Cameroonian Authority table on an acceleration of GDP to 6.3%, a goal by a draft law of Finances of the order of 3,746.6 CFAF billion, approximately 7.493 billion $ 13.12 per cent increase over the 3,312 billion CFA, 6,624 billion dollars for the current fiscal year, submitted for the consideration of the National Assembly and the Senate.

This draft budget of the State, contained in the economic, financial, social and cultural programme presented by the head of the Government to parliamentarians Tuesday, is divided between 57.65%, approximately 2,159.9 billion CFA for the direct operating expenses, and 30.70%, approximately 1, 150 billion, for capital expenditures and 11.65%, about 436.7 billion for the settlement of debt.