Cameroon sets 4.5 percent growth target for 2024

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Wpid Money Growth
Economic growth

Cameroon aims for an economic growth of 4.5 percent in 2024, up from the 3.9 percent forecast in 2023, Prime Minister Joseph Dion Ngute has said.

Delivering the government’s 2024 program to the National Assembly late Thursday, Ngute acknowledged that the macroeconomic targets are very ambitious amid the challenges facing the central African nation as a result of both internal and external factors.

He said the government’s “Economic, Financial, Social and Cultural Program… aims to boost economy and uplift the standards of living of our citizens.”

Ngute said the government has set a comprehensive 2024 budget of 6,740.1 billion xaf (about 11.21 billion U.S. dollars), compared to 6,726.9 billion xaf (about 11.19 billion dollars) in 2023.

The budget will prioritize job creation, poverty alleviation, national defense and internal security, macroeconomic stability, investment environment optimization and social security, he said.

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