(Business in Cameroon) - In Cameroon, the Ministry of Economy informs that pending formal authorization for implementation, the government has validated its National Development Strategy for 2030.
According to this Strategy, Cameroon's ambition is to put in place conditions conducive to the accumulation of wealth and ensure that the structural changes necessary for industrialization are achieved. It will aim at raising GDP growth rate to around 7 to 8% on average over the 2020-2030 period; increase the growth rate of the non-oil secondary sector to around 8% and to reduce trade deficit from 8.8% in 2018 to around 3% of GDP in 2030.
The national development plan also aims to improve the living conditions of the population and their access to basic social services by ensuring a significant reduction in poverty and underemployment. Thus, it will try to reduce poverty rate from 37.5% in 2014 to less than 25% in 2030; reducing underemployment from 77% in 2014 to less than 50% in 2030, and raising the human capital index from 0.39% in 2018 to 0.55 as well as the human development index from 0.52 in 2016 to 0.70 in 2030.