(Business in Cameroon) - The Monetary Policy Committee of the Bank of Central African States (BEAC) has disclosed that the growth rate in the CEMAC zone has dropped to 2.6 percent. The committee in March 2013 projected a 4.1 per cent growth rate.

Meeting in its third ordinary session in Yaounde on Thursday October 31, 2013, the Committee, headed by the Governor of BEAC, Lucas Abaga Nchama, noted that the slump is as a result of a drop in public investment, slow down in public works activities as well as a drop in oil production in the Central African Economic and Monetary Committee, CEMAC.

It also emerged from the session that inflation at the end of 2013 is expected to remain at 2.5 per cent, the monetary and public account situation will improve and there will be a slight drop in current external account.

To turn the tides, Mr Abaga Nchama said BEAC is doing everything to enhance the financing of the economy through the issuance of treasury bills by CEMAC member countries.

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