Cameroon’s GDP growth rate to hit 6 percent in 2015

Cameroon's economic growth rate will stand at 6 percent in 2015, according to a document published by Ministry of Economy, Planning and Regional Development in collaboration with National Institute of Statistics on Monday.

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GDP
GDP

The document said Cameroon’s GDP growth rate has remained stagnated over the last five years at an average level of 4.7 percent per year, falling short of 5.5 percent as projected by the government.

GDP
GDP

The document further indicated that while the European Union (EU) remains the country’s main trading partner, Cameroon has also made significant inroads into the East Asian markets, particularly in China.

According to the document, while both the primary and secondary sectors have expanded, the tertiary sector in particular has witnessed significant growth fueled by trade, telecommunications and transport services.

“However, Cameroon will continue to grapple with a heavy debt burden which has dropped from 5.5 percent of the gross domestic product (GDP) to 1.3 percent,” it added. Enditem

Source: Xinhua

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