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Central Africa: The Beac sees better economic prospects within the Cemac in 2018
Yaoundé, July 13, 2018 ( CNC) –
These have been revised upward because of a recovery in global economic activity. The central bank forecasts a growth of + 2.5% against + 1.9% initially pre seen .
Having seen a recovery in global economic activity, and an increase in exported basic products by the Cemac countries, the Beac has decided to revise the economic prospects of the subregion
It is also betting on the increase in oil production and its prices, as well as public investment. Why, during the last administration of the Beac on July 4 in Yaoundé, the administrators of the central bank have forecast growth of + 2.5%.
The Beac also enters a budget balance of +0, 5% of GDP with a money supply of 7.1%. In the same way, the rate of external coverage of the currency should reach 60.7%. The Beac thus remains optimistic about the economic prospects of the sub-region this year
However, it should be remembered that in 2017 the growth forecasts for real GDP were negative. The budget balance of the Beac was -3% of GDP while its current account balance was -4%.
As for its money supply, it had fallen by -0.4%. Moreover, the central bank's rate of hedging was around 57.5%. Thus the growth in 2018 within the CEMAC is positive.
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By: N. Mballa, CNC.
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