logoBC
Yaoundé - 05 July 2020 -
Economy

Beac lowers CEMAC countries’ 2019 growth forecasts

Beac lowers CEMAC countries’ 2019 growth forecasts
  • Comments   -   Thursday, 25 July 2019 15:36

(Business in Cameroon) - On July 24, 2019, in Ndjamena, the monetary committee of the Bank of Central African States (BEAC) met to discuss the sub-region’s 2019 economic outlook.

At the end of the meeting, a release signed by BEAC’s governor Abbas Mahamat Tolli indicated that in 2019, member countries’ economy would grow slower than forecasted earlier. Economic growth is expected to be 3% instead of the initial 3.2%.

In addition, inflation is forecasted to reach 2.5% against 2.1% in 2018 while affected by high oil products’ importations. Current account deficit should reach 6.1% of GDP, up from 3.4% of GDP in 2018.

Still, there is good news. For instance, the budget surplus is forecasted to reach 0.4% of GDP this year, up from 0.1% recorded in 2018. The money mass should also rise by 8.2% for an external coverage rate of 68.6% against 61.4% in 2018.

S.A

south-african-stephen-blewett-appointed-the-new-ceo-of-mtn-cameroon
“I'm very excited to join the dynamic and focused MTN team in Cameroon! Thanks for the warm welcome and kind messages of support.” This is the message...
cbc-plans-to-increase-social-capital-to-cfaf16-5-bln-after-cfaf2-5-billion-positive-result-in-2019
Commercial Bank-Cameroon (CBC) informs that it achieved a positive result of CFAF 2.5 billion as of December 31, 2019. This represents an increase of CFAF...
energy-minee-announces-works-to-boost-the-production-of-memve-ele-hydroelectric-power-station-211-mw
From July 4 to 6, 2020, the turbines at the Memvé'élé hydroelectric power station, which currently only delivers about 80 MW out of an installed capacity...
afriland-first-bank-obtains-financial-market-supervisor-cosumaf-s-authorization-for-its-brokerage-firm-afriland-bourse-investment
On July 2, Cameroonian bank Afriland First Bank informed that the Central African Financial Market Supervisory Commission (Cosumaf) approved its...

Mags frontpage


Business in Cameroon n88: June 2020

Covid 19 Its impacts so far


Emmanuel de Tailly (SABC) : «Preserving jobs at all costs»


Investir au Cameroun n98 Juin 2020

Covid 19 Et maintenant, l’étendue des dégâts


Emmanuel de Tailly (SABC) : «Maintenir l’emploi coûte que coûte »