Cameroon 

Cameroon country policy

Policy established 23 June 2011

• The country ceiling is 80 mln euro
• Early warning signal 30 mln euro
• - of which was used as at 2012-02-29 9 mln euro
• Public buyers: ORIO facility
• Private buyers: SIF facility

Country class: 6

Cameroon country facts

Atradius Dutch State Business Economic Research
Country Report last updated 14 October 2010

Country: CAMEROON

Political Situation
Elections In 2011

Head of state
President Paul Biya (since 1982, represents his party Rassemblement Démocratique du Peuple Camerounais, RDPC, age 77) was re-elected as president in 2004. PM Philemon Yang.

Form of government
RDPC won parliamentary elections in 2007.

Internal Economic Situation
Higher Oil Prices Support Economy

General situation
Economic growth is highly dependent on the oil sector. This year an economic growth of 2.8% and expected is an acceleration to 3.9% in 2011. Public investments and investment in the mining sector support construction and exports. Due to exhaustion of oil reserves oil production declined with 13% in 2009 and expected is a further decline of 12% this year. Declining oil production will be offset by the mining sector as investments in this sector have increased and some mines will begin with production in coming years. The first gas discovery has been made and expected is a sharp increase in production in 2012. Inflation of 1.9% expected for this year and next year increase to 4.3%.  

External Economic Situation
Hipc Completion Point: Debt Relief

Main sources of foreign exchange
Crude oil and petroleum products, cocoa , cotton and aluminium.

Main foreign markets
Spain (21%), Italy (15%), France (11%), UK (8%)

Main expenses of foreign exchange
Machines and electrical equipment, food, consumer goods, transport equipment.

Balance of payments 
Higher oil price boost export revenues, but imports still higher then exports due to infrastructure projects and investment in oil and mining industry. Therefore deficit on CA remain.