Cameroon Economic Update, July 2011, Issue No. 2 : Towards Better Service Delivery
These economic updates analyze the trends and constraints in Cameroon's economic development. Each issue, produced bi-annually, provides an update of recent economic developments as well as a special focus on a selected topical issue. The econ...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/163751468017353269/Towards-better-service-delivery-an-economic-update-on-Cameroon-with-a-focus-on-fiscal-decentralization http://hdl.handle.net/10986/27171 |
| Summary: | These economic updates analyze the
trends and constraints in Cameroon's economic
development. Each issue, produced bi-annually, provides 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
latest information confirms the expected recovery in
economic activity in Cameroon. The upturn in the global
economy and measures taken by the authorities to stimulate
domestic production, real gross domestic product (GDP)
growth in 2010 is estimated to have reached 3.2 percent
(compared to 2 percent in 2009). As expected, most of this
recovery was driven by the tertiary sector, which accounted
for more than half of the estimated growth. The sector
benefitted from a pick-up in timber-related transport and
continued strong activities in mobile telephony stemming
from a greater use of fiber optic, promotional campaigns
during the Soccer World Cup, and the roll-out of new
products. The recovery in the primary sector, with an
estimated growth rate of about 4 percent in 2010, was led by
a strong expansion in the timber sector, as well as in food
crops. The non-oil secondary sector, meanwhile, is also
estimated to have grown by about 4 percent, driven by a
continued pick-up in construction activities and a rebound
in food processing. 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 and oil production is estimated to
have contracted by a further 12 percent in 2010 (to 23.2
million barrels). |
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