Commercial exchanges have improved, hitherto staled infrastructural projects rekindled, markets and enterprises progressively reopening.
Economic activities are increasing in the two English speaking regions of the country following the implementation of the recommendations of the Major National Dialogue held from September 30 to October 4, 2019 to find lasting solutions to the sociopolitical situation in the regions. Agricultural production, industrial activity and trade have upgraded in the North West and South West Regions with reconstruction works ongoing, as compared to statistics of 2019. The government of Cameroon in collaboration with the United Nations Development Programme, (UNDP), carried out a study on the evolution and impacts of the crisis in the two region from 2016 to 2020, an analysis which indicated that the situation had a negative repercussion on economic activities.
According to the statistics, 2019 was the year highest hit by the crisis, as it generated a loss of -0.8 per cent of national GDP compared to -0.5 in 2018. Inflation was above 3% in the two regions in 2019. The Cameroon Development Cooperation (CDC), the report highlighted, did not export a single banana in 2019 and all other agricultural products went down progressively from 2017 to 2019. Tourism was affected as hotel occupation dropped and public revenue declined sharply with more than 700 public investment funded projects not executed in the same period. Unpaid bank loans were on the rise in the two regions.
From 2020 however and till date, there has been an evolution in economic activities. The CDC for example exported 6,000 tons of bananas while rubber, oil-palm, cocoa, rice, tea and food crop production are all on the rise. Public revenue collection is progressing and so is the execution of public investment budget funded projects. In terms of the Public Investment Budget (PIB) in the North West for the first half of 2021, some Councils have succeeded in completing the execution of several projects with many others still ongoing, especially in rural areas. In Mezam Division of the North West for example, the constriction of two diameter 100 concrete culverts bridge along the road linking upper Agham and Ngophana has been completed and delivered. The rural electrification project from Tubah II through Akou to Ntanah in Bambilli, and the construction of the stretch of road from IRAD Bambui to Bambilli three corners have been executed.Village and town markets are increasingly functional with more and more commercial exchanges witnessing an upward trend. Both public and private institutions are gradually reopening their doors, leading to a positive economic results.
Source link : https://allafrica.com/stories/202110140167.html
Author : Cameroon Tribune
Publish date : 2021-10-14 08:13:36