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186LES ATOUTS ECONOMIQUES DU CAMEROUNMaking massif investment in order to boost economic expansionBy 2018, major projects of the first generation should have attain the completion point. 2020 is the beginning of a new phasing for the implementation of Cameroon’s Development Vision by 2035. However, there is a persisting gap between the two periods that has to be filled imperatively. This concerns among other things, investment in digital infrastructure, completion of some necessary commu- nication channels necessary to link production areas to markets, or projects included in the Emergency Plan. On the latter subject, did the Head of State not say that “the primary purpose of the Emergency Plan is the need to strengthen the performance of national economy and improve the living conditions of Cameroonian people in order to attain the objec- tive of emergence in 2035”. Besides, some pro- jects, including the Yaoundé-Douala Motorway, will not be completed in 2018. In order not to suffer from the cost of a waiting-game that could induce the lag time between the end of the first cycle of major projects and the launch of a second cycle, we must act, very quickly.FLAGSHIP ACTIONS SINCE 2010From 2010, the Government of Cameroon has implemented an ambitious public investment pro- gramme on key infrastructures, particularly in the areas of transport and energy, to improve the competitiveness of the economy. The proactive economical approach generated steady growth in GDP, which rose from 3.3% in 2010; 4.1% in 2011; 4.6% in 2012; 5.6% in 2013; 5.9% 2014 and 5.8% in 2015. That earned the Government, express congratulations from all development partners for the good management of some of these projects. The recent satisfaction was expressed in January 2016 by the Director General of the IMF, who, at a reception hosted to her by President Biya, when she said all the good things she thought of projects like the LOM PANGAR Dam and the Deep water port in Kribi.The good results achieved since then, led ana- lysts to describe Cameroonian economy as “resi- lient” to reflect its uniqueness in an international and regional environment of prolonged downturn in economic activity since 2013/14. In fact, since 2010, when the GESP was implemented, Cameroon has evolved from an economic soft- ness to a certain vigour, with a projected growth rate at 5.9% in 2016. In fact, thanks to changes and economic transformations induced by the implementation of the GESP, through the Major Projects Programme built up against the strategic focus N°1 on the “Infrastructure Development”, the Cameroonian economy has been able to face the adverse effects from (i) the repercussions of the war against the terrorist sect Boko Haram; (ii) the less conciliatory conditions internationally, and its main trading partners, particularly China, which intends to revisit its economic model; (iii) the prolonged fall in commodity prices, specifi- cally oil; (iv) the tightening of borrowing condi- tions; (v) the persistence of climatic disturbances, especially in the Far-North region and (vi) the influx of refugees into our land.This design of the mainsprings of our economic progress in recent years is crucial, in that it is deci- sive for the choice of our future economic policies, which besides, will help the Cameroonian eco- nomy to achieve the key objectives of the GESP at the strategy’s prospects by 2020.PROSPECTSIf the public capital stock has significantly risen in our country since 2010, the gaps or deficit pockets exist, for example in the country’s energy production capacity or stowage to digital interna- tional standards. That includes a strengthening and densification of actions to maintain and expand the basic knowledge. Besides, this infrastructure programme will be best placed to operate the eco- nomic transformation desired by the Head of State, by investing in new growth generating sources identified in the Master Plan for Industrialization (Energy, Digital and Agribusiness).Therefore, focus will be on a stimulus policy based on the multiplier effects of investment demand. While privileging the latter, the option would lay more emphasis on supportive mea- sures by the massification of investments to generate a business environment conducive to sustainable development in the private sector. Due to a slight deceleration in 2015, this option, which is timely and relevant, aims at creating routes to markets and consumption centres, investing more in digital technology as prescribed by the Head of State, making connecting to electricity and water easier, pro- viding economic operators with more telecom- munications services and quality internet, buil- ding the key trade corridors.

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