The central bank of the six nation Central African monetary union (BEAC) cut its growth forecast for the region to 4.9 percent for this year, versus an earlier estimate of 5.6 percent, it said in a statement on Friday.
"Due mainly to the effect of the fall in oil prices, the updated forecasts for 2014 show growth of 4.9 percent versus an earlier forecast of 5.6 percent, and against growth of 1.3 percent in 2013," the statement said.
BEAC is the central bank of the Central African Economic and Monetary Community (CEMAC), which groups Cameroon, Chad, Congo Republic, Equatorial Guinea, Gabon and Central African Republic (CAR). The first five of these nations are oil producers.
Reuters
"Due mainly to the effect of the fall in oil prices, the updated forecasts for 2014 show growth of 4.9 percent versus an earlier forecast of 5.6 percent, and against growth of 1.3 percent in 2013," the statement said.
BEAC is the central bank of the Central African Economic and Monetary Community (CEMAC), which groups Cameroon, Chad, Congo Republic, Equatorial Guinea, Gabon and Central African Republic (CAR). The first five of these nations are oil producers.
Reuters
4 comments:
let them cut it,it is not like things were ok when the price of oil was at its peak.I don;t even know the type of game these ogas at the top are playing.why is it that they have not lowered the price of petroleum products since the price of oil plummeted?if they like they should lower the growth forcast to 0 percent.
Well Canisia, they don't also increase fuel prices when they go up. Cos the govt has a mechanism which stabilizes fuel prices and keeps them stable, regardless of global fluctuations
Big book. Moity don't u know that I failed Economics.. je n'ai aucune idee
is it that these government officials are blind on their decisions. they set unrealistic goals.
Post a Comment