In its first ordinary session for 2019, the Monetary Policy Committee of the Bank of Central African States met in Djamena, Chad on March 21, 2019, where the financial situation of the Subregion was examined.
Prime focus of the Monetary Policy Committee (CPM) of the Bank of Central African State (BEAC) first ordinary session for 2019 held in Djamena Chad on Thursday March 21, 2019 was to review and forecast the monetary policy of the central African Subregion.
As Cameroon News Today- CNT gathered, the meeting was chaired by Abbas Mahamat Tolli, Governor and Statutory President of CPM and in the course of the meeting, the sub-regional and global macroeconomic perspective for 2019 came under examination.
Going the meeting’s forecast, global economic growth will experience a slight decline with respect to the slow drop in growth rate of certain advanced and emerging economies. CPM cited specifically the tightening of financial conditions, the reduction of aids and grants by some developed countries, the effects of the US-China trade war and the eventual exit of Britain from the European Union.
Disclosed in the Committee, Cameroon News Today- CNT gathered, “Countries in the sub-region experience an increase in the price of crude oil, an increase in production in some countries and the boosting of the non-petroleum sector”.
As to forecast on the sub-region, growth rate will stand at 3.2 per cent this year, which is up from 1.7 per cent in 2018. The inflation rate is expected to be maintained at 2.1 per cent, as was the case last year. CPM also predicted a budget surplus based on public expenditure; that is 0.9 per cent of publiivestment budget, as against a deficit of 0.7 per cent of public investment budget in 2018.
On general remark, the year 2019 is promising for the sub-region
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