Cameroon Economic Update, January 2011, Issue No. 1

World Bank

Cameroon Economic Update, January 2011, Issue No. 1

2011

World Bank

This Cameroon economic update, the World Bank is launching a program of short, crisp and more frequent country economic reports. These economic updates will analyze the trends and constraints in Cameroon's economic development. Each issue, produced bi-annually, will provide an update of recent economic developments as well as a special focus on a selected topical issue. The economic updates aim to share knowledge and stimulate debate among those interested in improving the economic management of Cameroon and unleashing its enormous potential. The notes thereby offer another voice on economic issues in Cameroon, and an additional platform for engagement, learning and change. The report's special focus on the telecommunication sector. Cameroon has been hit by the global economic and financial crisis over the past two years, as reflected in steep declines in the price and demand for its export commodities including oil, timber, rubber, cotton and aluminum. However, the upturn in the global economy and measures taken by the authorities to stimulate domestic production, preliminary indications suggest that economic activity is recovering. Gross domestic product (GDP) growth in 2010 is estimated to have reached 3 percent on the back of stronger non-oil activities, which expanded by about 4 percent (particularly food crops, forestry, construction, transport, and telecoms). Data on private credit growth corroborate this assessment. Cameroon is a relatively small and mature oil producer, where oil production is declining. Depleting reserves, aging equipment, and more recently postponements of some development projects and investments because of the financial crisis explain this profile. The contribution of this sector to GDP growth has been mostly negative in recent years: oil production is estimated to have contracted by a further 16 percent in 2010 (to 23.2 million barrels).

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AGROVOC Keywords

accounting agriculture banking benchmarks best practice budget capital market commercial banks commodities communication communication technology consumers debt deficit democracy developing countries development projects economic development economic structure electricity equipment exports finance food prices governance grants gross domestic product growth rate incentives income inflation information information technology infrastructure initiatives installation institutions international trade interoperability investment manufacturing market structure monopoly national income national parks natural resources new products open access policies poverty prices private sector production productivity public debt public investment public utilities results retail prices road transport roads satellite stock tariffs taxes telecommunications training trend trends unemployment valuation value chains

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Other Subjects

Communication technologies; Port infrastructure; Reserves; Business environment; Debt relief; Connectivity infrastructure; Central bank; License; Institutional framework; Payments; Global information society; Government finance; Limited access; Communications technology; Revenues; Telecom; Settlement; Regional integration; Economies of scale; Telephone lines; Market; Food price; Legal instrument; Fuel; Government debt; Road; Traditional markets; Lack of competition; Customs; Petroleum products; Central government debt; Technologies; Monetary fund; Infrastructure projects; Goods; Good; Supervision; Ict; Debt service; Telephony; Vehicle; Capital expenditure; Service providers; Electronic communications; Consumer price index; Human development; Result; Private credit; Car; Licenses; Growth rates; Surface transport; Debt reductions; Broadband; Direct access; Share; User; Market penetration; Fuel price; Optical cable; Bandwidth; Adverse effects; Transport costs; Middle-income countries; Procurement; Credit growth; Government bond; Tariff; Public investments; Infrastructure access; Competitiveness; Communication services; Value; Financial burden; Regional network; Sustainability analysis; Financial crisis; Drivers; Profits; Banking sector; Export earnings; Business opportunities; Road network; Productivity increases; Debt management; Business indicators; Private partnership; Telecommunications infrastructure; Regulatory agency; Cost structure; Telecommunication; Economic activity; Transport services; Gdp; Job creation; Country debt; Arrears; Performance; Shares; Business; Capital markets; Consumption levels; Coupon; International standards; Revenue; Backbone; Issuance; Connectivity; Low-income country; Mobile telephone; Harmonization; Timely access; Future; Global economy; Gdp per capita; Freight; Mobile telephony; National debt; Global standards; Economic developments; Link; Telecommunications network; Payment obligations; Bond issue; Business climate; Sustainability analyses; Government bonds; Transmission; Economic performance; High transport; Income groups; Protocol; Public spending; Investments; Deposits; Tax; Expectations; Budget allocations; Liberalization

Language

English

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Cameroon Economic Update, January 2011, Issue No. 1

2011

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