TRAVAIL MURE
REPUBLIC OF CAMEROON
Peace-Work-Fatherland
# 2025
# finance law
ANNEX
REPORT ON THE NATION'S ECONOMIC, SOCIAL, AND FINANCIAL SITUATION AND PROSPECTS
NOVEMBER 2024
REPUBLIC OF CAMEROON Peace-Work-Fatherland
2025 FINANCE LAW
# REPORT ON THE NATION'S ECONOMIC, SOCIAL AND FINANCIAL SITUATION AND PROSPECTS
2024 FINANCIAL YEAR
NOVEMBER 2024
Current and previous versions of this report are available in French and English on the following websites: www.minfi.gov.cm and www.dgb.cm
ii REPORT ON THE NATION'S ECONOMIC, SOCIAL AND FINANCIAL SITUATION AND PROSPECTS
REPORT ON THE NATION'S ECONOMIC, SOCIAL AND FINANCIAL SITUATION AND PROSPECTS iii
# TABLE OF CONTENTS
LIST OF TABLES...7 LIST OF GRAPHS...10 BOXES...11 CHAPTER 1: OVERVIEW...12 1.1. International Economic Environment...12 1.1.1. Economic growth and inflation...12 1.1.2. World trade and commodity prices...13 1.2. Recent Developments in Cameroon’s Economy...15 1.2.1. Growth and prices...15 1.2.2. Relations with the rest of the world...16 1.2.3. Financial sector...18 1.2.4. Public finance...20 1.2.5. Social sectors...21 1.2.6. Structural and institutional reforms...22 1.3. 2024-2027 Macroeconomic and Budgetary Outlook...23 1.3.1. 2024 Macroeconomic situation...23 1.3.2. 2025-2027 Macroeconomic outlook...24 1.3.3. 2025-2027 Budget prospects...26 1.3.4. 2025 Budgetary constraints and risks...27 CHAPTER 2: PRODUCTION...28 2.1 Primary Sector...28 2.1.1 Agriculture...28 2.1.2. Livestock, hunting, fishing and fish farming...33 2.1.3. Forestry and wildlife sub-sector...37 2.1.4. Environment and nature protection...40 2.2. Secondary Sector...41 2.2.1. Manufacturing industries...41 2.2.2. Extractive industries...44 2.2.3. Electricity generation and distribution...46 2.2.4. Water production and distribution and sanitation...47 2.2.5. Public works and civil engineering...48 2.3. Tertiary Sector...51 2.3.1. Trade and vehicle repairs...51 2.3.2. Tourism...53 2.3.3. Transport, warehousing and communication...53 2.3.4. Information and telecommunication...55 2.3.5. Insurance and financial activities...56
iv REPORT ON THE NATION'S ECONOMIC, SOCIAL AND FINANCIAL SITUATION AND PROSPECTS
# CHAPTER 3: DEMAND, PRICES AND COMPETITIVENESS 57
3.1. Analysis of Demand Components 57 3.1.1. Domestic demand 57 3.1.2. Net external demand 61 3.2. Price and global competitiveness 65 3.2.1. Household final consumption prices 65 3.2.2. Global competitiveness 67
# CHAPTER 4: FINANCIAL SECTOR 71
4.1. Monetary Policy 71 4.1.1. Refinancing policy 71 4.1.2. Interest rate management policy 72 4.1.3. Reserve requirement policy 72 4.2. Monetary Situation 72 4.2.1. Money supply counterparts 73 4.2.2. Money supply 75 4.3. Banking Sector 76 4.3.1. Balance sheet total 76 4.3.2. Customers' deposits 76 4.3.3. Loans to customers and net banking income 77 4.3.4. Prudential ratios 78 4.3.5. ATMs and electronic money 79 4.4. Microfinance 79 4.4.1. Distribution of MFIs by category 79 4.4.2. Geographical coverage 80 4.4.3. Balance sheet trends 81 4.4.4. Trends in deposits 81 4.4.5. Trends in credit 81 4.4.6. Nonperforming loan trends 82 4.4.7. Weight of the MFI sector in the banking system 82 4.5. Financial institutions 82 4.6. Insurance 83 4.7. Financial Market 85 4.7.1. Stock Market 85 4.7.2. Government securities operations 86
# CHAPTER 5: FOREIGN SECTOR 88
5.1. Foreign Trade in Goods 88 5.1.1. Trade trends 88 5.1.2. Geographic orientation of trade 92 5.2. Balance of Payments 98
REPORT ON THE NATION'S ECONOMIC, SOCIAL AND FINANCIAL SITUATION AND PROSPECTS V
5.2.1. Current account balance...99 5.2.2. External financing...100 5.2.3. Balance of payments by sector...101 5.2.4. Bilateral balances of payments...103