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CEMAC’s 2018 growth projections grew to 2.5%, over an increase by 8.7% in exported product price index in Q1 2018

CEMAC’s 2018 growth projections grew to 2.5%, over an increase by 8.7% in exported product price index in Q1 2018
  • Comments   -   Wednesday, 05 September 2018 18:43

(Business in Cameroon) - During the first three months this year, the global price index of commodity exported by CEMAC’s member countries increased by 8.7%, compared to Q4 2017. Upon this improvement, the Bank of Central African States (Beac) revised its growth forecast upwards for 2018 to 2.5% from 1.9% initially.

According to a “monetary policy” report issued by the bank, the uptick is mainly attributable to “the rise in energy products prices, and to a lesser extent in the price of forest and agricultural products”. In detail, the period under review saw “a significant increase in the prices of fishery products (+12.6%) and energy products (+10%). Prices of forest and agricultural products rose less strongly by 4.9% and 4.4% respectively. With regards to metals and ores, the price variation was 2.8%”. Let’s note that CEMAC includes Cameroon, Chad, Congo, Equatorial Guinea, CAR and Gabon.

Brice R. Mbodiam

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