Created on 2 October 2015, the government team in place is struggling to find solutions to economic problems.
In its issue of October 4, 2016, La Nouvelle Expression (LNE) offers readers an analysis of the first year of the third Government of the Philemon Yang era, formed 12 years ago. The paper first recalls that in his end of year speech of 2015, the President of the Republic, Paul Biya, fixed the cap to accelerate development. A cap that rested on two levers: the economy and security that should enable Cameroon to step up a gear, to “welcome women AFCON, 2016 (…) and to have adequate infrastructure …“.
Moreover, indicated the Head of State, “our main objective remains the acceleration of economic growth. Our growth must be stronger, more sustainable, more inclusive and generating more jobs for all, especially our youth. Our people should feel the benefits of this growth. “
These beneficial effects were based on six points: “the availability of sufficient and permanent energy; the modernization of our agriculture and the transformation of its production; operation and advantageous processing of mineral resources; continuous improvement of the business climate to attract more investors; mobilizing the necessary funding; and the development of communications and telecommunications infrastructure. “
A year later, the point is clear. The objectives were not met. On the point about the availability of sufficient and permanent energy, “the efforts in the construction plan of hydroelectric dams permitted to see the first light signals. By injecting 70 MW in the interconnected network of the south, the hydroelectric dam of Lom Pangar reduced the voltage on 2016 the low flow. But the goal of achieving energy (electric) sufficient and permanent is not reached, “says the newspaper.
About agriculture, says our colleague, “Promises were not fulfilled. Cocoa production does not change much to the 600 000 tonnes expected in 2020, the CDC, the largest agribusiness company, abandoned rubber and palm oil (unprofitable) for corn and pepper; the second generation of agriculture is not at the rendezvous, and the transformation of national production remains stifled by imports. “
The finding is not shining on the other sectors. “As the business climate, the law on investment incentives has been supplemented by the law governing collective investment in transferable securities in Cameroon (UCITS). If we rely on the reports produced by international institutions (IMF, World Bank, ADB, etc.), Cameroon has a long way to go. For the “Global Entrepreneurship Index 2016”, a London organization that studies the strengths and weaknesses of an entrepreneurial country, Cameroon is the 155th country in the world (African 19th) in terms of attractiveness for business. In industrialization, the Logistics Performance Index published on 28 June by the World Bank placed Cameroon at 148th in the world, and the 40th on continental ranking of the most industrialized economies, “says ESA.
In August 2016, the rating agency Moody’s assigned a B2 to Cameroon. According to the agency, “Exposure to the oil crisis reveals the potential” of largely underdeveloped natural resources in agriculture, natural gas, hydropower and minerals sector, “the agency had found. Before adding that Cameroon remains blocked by delays in construction projects of ports and transport infrastructure, such as highways. “