World Economy

Cameroon Expects 4% Growth

 Cameroon Expects 4% Growth Cameroon Expects 4% Growth

Cameroon’s economy is expected to grow 4% this year, up from 3.2% in 2017 due to the start of natural gas production and construction work for an upcoming soccer tournament, the International Monetary Fund said, DNAIndia reported. Growth was slower in 2017 because of a sharp decline in oil output but new infrastructure projects and increased private investment should bring it to at least 5% in the medium term, the IMF said in a statement late on Friday. Cameroon, one of central Africa’s largest economies, produces about 180,000 barrels per day of oil and is Africa’s fourth-biggest cocoa producer. The IMF statement followed a decision by its executive board to approve the disbursement of $77.8 million as part of a three-year, $680.7-million financial aid package. The IMF warned, however, that the economy faces considerable risks, including deteriorating security in its English-speaking regions—cocoa and oil-producing areas where separatists are waging a deadly insurgency, and high debts.

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