According to Rigobert Roger Andely, the Vice Governor of the Bank of Central African States (BEAC) who doubles as acting chairman of the CPM, the various governments supporting growth accounted for the increase in the investment rate.
On the slowdown recorded in the economic activity, Andely said "this will be less obvious than expected with an increase rate estimated at 2.4% in 2009, instead of 2.1% previously expected, as against 4.1% in 2008."
Meanwhile, inflation in the area will fall to about 4%, as against 5.9% in 2008, as a consequent of the decline in global prices. The foreign import-export ratio for currency is, however, said to remain comfortable around 100% and the reference rate, which is 4.25%, remained unchanged.
The sources said the exchange rate reserves dropped from 6,839 billion FCFA in 2008 to 6,344 billion FCFA in 2009 following the global economic downturn, Yaoundé - 07/11/2009
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