World Bank projects marginal economic growth for Central African states
The World Bank has projected that the economic growth of most countries in the Central African Economic and Monetary Community (CEMAC) will slightly accelerate from 2017 to 2019, based on its latest economic perspectives.
The leader in the zone, Cameroon, moves from 5.6 per cent in 2016 to 5.7 per cent in 2017. This recovery in the country’s growth will continue in 2018 and 2019 with a growth rate of 6 per cent for both years. This scenario, the World Bank explains, is due to the fact that developing countries such as those in the CEMAC are progressively adapting to the drop in commodity prices.
Chad moves from -3.5 per cent in 2016 to -0.3 per cent in 2017. But in 2018, this rate will be at 4.7 per cent and 6.3 per cent in 2019. The World Bank forecasts for Gabon increasing growth rates over the same periods: 3.2 per cent, 3.8 per cent, and 4 per cent in 2018 and 2019.
However, Congo will rather see its growth falling during these four years with respectively 4.6 per cent, 4.3 per cent, 3.7 per cent, 3.7 per cent. Equatorial Guinea will continue to face its economic crisis (-5.7 per cent in 2016, -5.7 per cent this year, -6.6 per cent in the next year and -6.6 per cent in 2019).
The Central African Republic was not included in the WB’s calculations as has been the case for several years since this country has been facing near-permanent social and political troubles.
