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Cemac: Beac drops growth projection back to 1.9% for 2018

Cemac: Beac drops growth projection back to 1.9% for 2018
  • Comments   -   Wednesday, 10 October 2018 16:50

(Business in Cameroon) - While last July the Bank of Central African States (Beac) revised upwards CEMAC's growth outlook from 1.9% to 2.5% for 2018, it has just dropped the figure back to the 1.9%.

This however reflects an improvement compared to the 0.2% in 2017, thanks to an increase in oil sector (+4.7%) and in non-oil sector (+1.3%).

Yet, the statement signed by Jean-Marie Ogandaga, Gabonese Minister of Economy and statutory Chairman of the BEAC Board of Directors, does not explain this forecast change; it just features “updated macroeconomic outlook for 2018”.

The central bank expects the general price level to rise to around 1.5% in 2018 from 0.9% in 2017. In addition, it expects an increase in the budget balance surplus to 1.4% of GDP, from -3.1% of GDP in the previous year.

S.A

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