Despite a praised capacity for adaptation, the Cameroonian economy is showing signs of fatigue. Between slowing growth and tensions on public finances, the IMF calls for a rapid tightening of economic policies.
Cameroon continues to display a certain solidity in the face of external shocks, but the balances remain precarious. In 2025, growth slowed to 3,1 %, hampered by disruptions related to the electoral cycle. For several weeks, commercial activities, services, and investments slowed down, revealing the economy’s vulnerability to internal tensions.
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At the same time, inflation experienced a lull, falling back to 3,4 % on an annual average, driven by an easing of food and transport prices. An encouraging signal, but one that is not enough to mask the deterioration of public finances. Initial estimates report a non-oil primary deficit of 2,6 % of GDP, well beyond the initial target. The cause: disappointing tax revenues and poorly controlled growth in current spending.
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In the medium term, the outlook remains positive, with growth expected to recover starting in 2026. But this trajectory will depend closely on the authorities’ ability to restore fiscal discipline. The IMF insists on the urgency of improving revenue mobilization and rationalizing spending in order to preserve debt sustainability.
In a more constrained international environment, marked by high interest rates and scarcer financing, the room for maneuver is shrinking. Cameroon will therefore have to strike a careful balance to consolidate its macroeconomic stability without compromising its development ambitions.
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