In 2017, the Cameroonian economy will show resilience - Minister of Finance

Despite the number of challenges to be met by African States in 2017, due to the difficult international economic environment, in particular the general drop in the prices of raw materials, the Cameroonian Minister of Finance, Alamine Ousmane Mey, is rather confident.

“There are many and important challenges. These are challenges linked to the Economic Partnership Agreement (EPA) with the European Union. The challenges are also linked to the somewhat difficult global macro-economic context.
But, we are used to meeting these challenges because our economy, just like in 2015 and in 2016 and certainly next year, will show resilience. A resilience built on a strong private sector, producing and creating wealth”, he confided to the pro-government daily.

As proof, with the gradual drop in oil revenues, a situation which led the CEMAC countries to reduce their budgets by up to 20% for 2017, Cameroon rather approved an increase of 3% compared to 2016.

To reach its goals in terms of public revenues in 2017, the government, capitalising on a diversification in the local economy, established about forty new customs and tax measures applicable to companies, to replenish the State's coffers.

All things which enable the country to plan on a growth rate of 6% for the coming year, even though this indicator is announced at around 2% in the CEMAC zone, which gathers Cameroon, Congo, Gabon, Equatorial Guinea, CAR and Chad.