Cameroon: BEAC forecasts revival of sales and production in the logging sector


(Business in Cameroon) – After a challenging environment in 2020, due to the coronavirus pandemic, the recovery observed in Cameroon’s economic landscape since the beginning of 2021 is expected to gain more momentum in the final three months of the current year, in the forestry and logging sector particularly. 

The mild weather (..) is conducive to forestry activities with easy access to the resource. This favors the resumption of the activities of wood processing plants and consequently the supply of local and external markets. The acceleration of the Covid-19 vaccination campaigns in the main wood-buying countries could also contribute to the revival of sales,” announced the Bank of Central African States (BEAC) in its recent quarterly business survey titled “test prévisionnel de conjoncture.

The forecasts bode well for loggers operating in Cameroon. Indeed, in 2020, they were hit hard by the economic fallouts of the coronavirus pandemic. The impacts were so harsh that the association of Cameroonian loggers asked the government to reduce felling taxes from 4 to 2.5% to help them cope with the health crisis. However, the government refused to agree to their request.  

BRM

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Source link : https://www.businessincameroon.com/forest/2210-11988-cameroon-beac-forecasts-revival-of-sales-and-production-in-the-logging-sector

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Publish date : 2021-10-22 16:03:59

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