(Business in Cameroon) - Cameroon’s oil revenues are expected to increase by about 0.1% of GDP during the 2018 fiscal year, over a price recovery. According to the International monetary Fund (IMF) which reports the information, this momentum should further improve by about 0.3% of GDP a year over the period 2020-23.
In this wake, the country will export more oil during the period under review, thus reducing the current account deficit by the same extent and rising Forex reserves. To prevent a new price collapse, IMF suggested that Cameroon should save any windfall revenue. Lets’ note that in 2017, the country collected CFA385.9 billion in oil revenues.