After a year 2017 without growth (-0.1%), the Economic Community of Central African States (CEMAC) forecasts economic growth of 2.1% in 2018, said Wednesday, March 21 Abbas Mahamat Tolli, governor of the Bank of Central African States (BEAC).
According to the BEAC Governor, this improvement can be explained by the rise in crude oil prices, as well as by the accelerated implementation of the economic, monetary and financial reforms prescribed by the bank.
“This renewed vitality is the result of the stabilization of foreign exchange reserves thanks to an influx of foreign exchange favored by financial aid granted by the International Monetary Fund (IMF) with other international donors, following the signing by the RCA, Cameroon, Gabon and Chad of an economic and financial program each, with a view to reviving their respective economies in crisis, “he said.
According to a recent report from the Bank, the region’s average growth is expected to reach 2.4% this year, compared with 3.4% in 2019.
