(Business in Cameroon) - In 2018, the current account deficit of CEMAC countries will increase to 4.3% of GDP (CFAF 2201.9 billion) from 4.0% of GDP (CFA1925.1 billion) in 2017. This is revealed in the “Economic and Statistical Bulletin” published this month by the Central Bank (BEAC).  

BEAC said the prolonged growth in crude oil prices and the gradual increase in production could raise the volume of CEMAC's foreign trade. In addition, the reduction in services and income balance will strongly cut the surplus in trade balance. Thus, the current account balance would remain in deficit in 2018 in all CEMAC countries.

Indeed, the current account balance is expected to reach -10.9% of GDP in 2018, compared to -8.3% in 2017 in Equatorial Guinea. In the Central African Republic, it is estimated at -7.8% of GDP in 2018, against -8.6% in 2017. In Congo, from -2.8% of GDP in 2017 to -1.1% of GDP. In Chad, -6.2% of GDP, compared to -4.7% in 2017. Gabon (-4.1% of GDP, after -4.5% in 2017) and in Cameroon (-2.6% of GDP, against -2.5% in 2017).

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