The World Bank has projected Cameroon’s economic growth rate for the 2015 fiscal yearat a 5.1 %. The announcement was made public recently in Yaounde by World Bank officials as they presented their report on the Global Economic Prospects for 2015.
They project an overall improvement even though there are fears of some hurdles along the way. While the World Bank projects a 5.1 % economic growth rate, the Government of Cameroon projects 6.2 % this 2015. World Bank officials say the increased growth in developing countries is due to several factors including the drop in fuel prices and the settling of problems that shook several major emerging markets.
In the meantime, the President of the World Bank Group, Jim Yong Kim called on countries to clear off obstacles prone to disturb investments in the private sector. To him, the private sector is the largest source of employment thus alleviating poverty. It is worth recalling that Cameroon’s economic growth has to some extent been affected by security and health challenges in the East and North regions. Such challenges influenced the choice of budgetary allocations for 2015 as Finance Minister Alamine Ousmane Mey disclosed while presenting the country’s prospects for 2015 in November 2014.