CEMAC has expressed satisfaction on Cameroon's 2019 economic performance.

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C’était le 21 février 2020, au cours de l’audience accordée à la Mission de surveillance multilatérale de la Commission de la CEMAC, par le Ministre de l’Économie, de la Planification et de l’Aménagement du Territoire, Alamine Ousmane Mey.

During the session, Mr Nguemeni explained to the Minister that the study of the macroeconomic situation in Cameroon was carried out using the convergent criteria of CEMAC.The study examined the disposition taken at the national level for a satisfactory conclusion of the ongoing 6th meeting on the Economic program for Cameroon with the International monetary fund, as well as evaluated the set up of diverse structural reforms.

Mr Nguemeni also showed that from the study, the macroeconomic situation of Cameroon continues to show positive resilience, despite the different crises plaguing the nation; notably, the fire incident at Sonara on the 31st of May 2019, the problems in the NorthWest ,South West and Northern Regions of the country. He also said that this positive note in the country’s economy is mainly thanks to the service sector and proposed that emphasis should be put on developing a diversified economy that will boost up industrialization and a structural transformation of Cameroon in order to step up her Economy. In this light Mr Nguemeni acknowledged that government is working on the National exportation strategy and also on raising leading companies amongst others to help Cameroon boost up its economy and become an emerging nation by 2035.

Together with Minister Alamine Ousman Mey the Commission from CEMAC expressed satisfaction on the fact that despite all the problems Cameroon is facing, it displayed an economic growth of 4% and has been able to maintain an economy in terms of inflation at below 3%.In addition to this they equally looked into the integration projects which will enhance connectivity and trade between Cameroon and other countries in the CEMAC region .This , the Minister affirmed, will help to boost up local production , step up its value and greatly contribute to Cameroons economic growth.
The Minister of Economy, Planning and Regional Development also maintained that government is working hard on a national strategy for development, the different sectorial policies and the country’s industrialization growth rate in order to promote, transform and improve on the country’s economy as well as see that it grows in an inclusive manner.