Cameroon: A resilient but not growing economy
The Gross Domestic Product (GDP) grew by 0.5% in 2020, 3.5% in 2021 and 4.1% in 2022. For the year 2023, the GDP growth rate is projected at 4.3%. These results are well below the rates forecast in the National Development Strategy for the period 2020-2030 (NDS30). Compared to countries of the same size such as Côte d'Ivoire whose economy "continues its growth dynamic" (2% in 2020, 7.4% in 2021 and 6.8% in 2022, and a projection of 7.2% in 2023) according to lepoint.fr, the Cameroonian economy would be content to resist the negative fallout of the coronavirus pandemic, Russia's war in Ukraine and the global monetary tightening. Some people are concerned about the implementation of the Cameroonian authorities' investment and structural reform program and question their commitment to the sustainability of public finances and debt (the debt ratio has risen from 28.8% of GDP in 2015 to 46% in 2021), as well as the development of a more prosperous and cohesive society.
