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Cameroon's economic growth to remain steady at 6 pct: IMF

Xinhua, September 15, 2015 Adjust font size:

Cameroon's economy is expected to grow 6 percent in 2015, the rate at which it ended in 2014, said the head of a visiting International Monetary Fund (IMF) mission here.

Mario de Zamaroczy, who was leading an IMF economic consultation with Cameroon authorities that started on september 14 and will end on September 24, made the projection after meeting with Finance minister Alamine Ousmane Mey on Monday.

Despite a difficult international economic situation, Cameroon's economic performance continued to witness some progress, said Zamaroczy.

"We hope that its growth rate will stand at 6 percent this year and the inflation rate will remain below 3 percent," said Zamaroczy.

Cameroon is sub-Saharan Africa's 10th largest crude oil producer and although oil is a relatively small share of overall economic activity, it plays an important role in exports and government revenues.

The country is a mature oil producer and production peaked up in 1987. The authorities believe there are significant prospects for discovering new oil fields both off- and onshore. Endit