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Yaoundé - 08 December 2019 -
Hydrocarbons

Cameroon: Oil revenues to grow by 0.1% in 2018 budget year

Cameroon: Oil revenues to grow by 0.1% in 2018 budget year
  • Comments   -   Friday, 07 September 2018 15:08

(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.

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