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

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

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English

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Cameroon Economic Update, January 2011, Issue No. 1

2011

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