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Cameroon - Country economic memorandum (English)

The evolution of the Cameroonian economy has been strongly influenced by the advent of new oil resources over the last seven years (1979-85). By 1985, the share of oil had risen to more than 17 percent of total GDP and about 45 percent of total government revenues. The subsequent upheaval on the world oil market and the consequent decline in crude oil prices, however, has placed unforseen economic burdens on the economy. The adjustment of Cameroon's economy to the decline in the oil sector will have to be more rapid and more radical than previously anticipated. In addition to this problem, which will probably disappear in the medium run, Cameroon must establish conditions for sustained growth in the long term at a level sufficient to create enough jobs to keep pace with the rapid increase in population. The focus of this economic memorandum is thus to examine the main economic and financial developments in Cameroon since 1978, assess the impact of oil production on those developments, and to analyze the adjustments to the economy which will be required to absorb the impact of the oil decline and establish the conditions for long term growth. Finally, the external borrowing strategy is discussed and this includes a number of scenarios.

Details

  • Document Date

    1987/02/19

  • Document Type

    Pre-2003 Economic or Sector Report

  • Report Number

    6395

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Cameroon,

  • Region

    Africa,

  • Disclosure Date

    2010/06/12

  • Disclosure Status

    Disclosed

  • Doc Name

    Cameroon - Country economic memorandum

  • Keywords

    country economic memorandum;french franc;oil revenue;balance of payment;external borrowing;government capital expenditure;production of cash crop;economic and sector work;average number of child;Public and Publicly Guaranteed;efficiency of tax collection;increase in tax revenue;price of oil;net foreign exchange;population growth rate;total labor force;gross domestic income;export of goods;gnp per capita;crude death rate;crude birth rate;absolute poverty;oil sector;oil price level;decline in investment;revenues from oil;primary school-age child;gross national saving;foreign private investment;primary school age;quality and efficiency;oil revenue flow;oil exporting countries;increase in population;production sharing agreement;rates of return;world oil market;exploration and development;high growth rate;number of teachers;Balance of Trade;crude oil price;death of child;measure of poverty;number of infants;acceleration of inflation;real exchange rate;effect on consumption;source of energy;working age population;poor financial structure;health and nutrition;world oil price;return on investment;infant mortality rate;agriculture and forestry;current account deficit;terms of trade;public enterprise investment;debt service ratio;level of private;primary school enrollment;domestic commercial bank;safe water supply;domestic interest rate;urban road system;total fertility rate;number of jobs;child death rate;amortization of debt;reduction in production;labor force reduction;public finance;oil company;fixed investment;oil production;oil companies;financial saving;financing need;adjustment measure;production cost;age structure;government expenditure;current expenditure;social indicator;recoverable reserve;commercial loan;public consumption;trade balance;oil resource;participation rate;government revenue;government receipt;domestic saving;agricultural land;financial situation;direct investment;oil exploration;long-term growth;food production;monetary policy;Job Creation;sectoral distribution;export price;debt amortization;export crop;projection period;incentive policy;limited contribution;social infrastructure;land area;debt outstanding;newspaper circulation;married woman;domestic borrowing;financial constraint;banking system;pupil-teacher ratio;agricultural value;employment growth;psychological factors;education enrollment;data availability;longer period;financial projection;net oil;trade effect;surface area;long-term impact;import capacity;investment level;inland water;net profit;internal saving;public saving;oil deposit;private debt;concessional term;relative value;guaranteed debt;industrial product;tax condition;banking sector;gross value;financial compensation;amortization schedule;incomplete data;world market;commercial borrowing;oil producer;long-term interest;market price;productivity growth;cultural area;food commodity;annual production;urban population;external indebtedness;adjustment program;contraceptive usage;domestic investment;real wage;heavy burden;investment expenditure;private consumption;import requirement;financial prospect;borrowing strategy;Universal Education;surface water;custodial care;hospital bed;university level;medical school;traditional sector;industrial sector;food crop;incentive system;capital-intensive industries;price policy;support system;inflationary pressure;domestic price;rail infrastructure;urban development;adequate diet;food requirement;export receipts;military vehicle;rural area;primary source;laboratory school;annual consumption;Armed Forces;geothermal electricity;household income;motor car;domestic demand;body weight;sex distribution;live birth;annual deaths;animal protein;gross enrollment;livestock product;capital account;monetary survey;sectoral composition;budget policy;long-term projection;oil seed;sugar beet;producer price;dependency ratio;energy equivalent;net migration;base year;food supply;stationary state;domestic production;stationary population;real growth;official reserve

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Citation

Cameroon - Country economic memorandum (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/253001468016833272/Cameroon-Country-economic-memorandum