(Business in Cameroon) - Cameroon’s budget deficit represented 2.6% of GDP, according to the Bank of Central African States (BEAC). This represents a slight rise (3 basis points) compared with the 2.3% recorded by the country in 2018.

The institution adds that during the period under review, only Cameroon and Chad (-1.2% of GDP against 1.5% in 2018) recorded budget deficits, while the other four CEMAC countries ended the fiscal year with surpluses. 

"Budget surpluses were recorded in Congo (6.0% of GDP, after 5.3% of GDP in 2018), Equatorial Guinea (1.1% of GDP, against 0.1% of in 2018), Central African Republic (2.9% of GDP, against 0.4% in 2018) and Gabon (2.4% of GDP, against -1.4% of GDP in 2018)," the BEAC says.

Cameroon's objective was to reduce the budget deficit from 2.3 in 2018 to 2% in 2019. But after the budget revision in May 2019, Business in Cameroon had already predicted that it would not meet that target. For the current 2020 Fiscal year, the country plans to reduce the budget deficit to 1.5%. If we consider the current economic situation marked by the Covid-19 crisis, this target will not be met.

BRM