Cameroon targets a growth rate of at least 6 percent, in addition to reaping in the coming years other substantial gains from its national wealth, according to Minister of Economy Emmanuel Nganou Djoumessi.
The Minister spoke Monday when he presented the outline of the draft emergency plan for speeding up economic growth in Cameroon, with the objective of achieving, from 2014, at least 6 per cent growth rate.
He said the plan, built upon the Growth and Employment Strategy Paper (GESP), was developed in a participatory manner, involving organisations representing the private sector, and would be financed from the 2014 budget.
According to him, the private sector should be the main engine of growth.
Regarding public investments, he said the deal would bring the rate of implementation of the Public Investment Budget (PIB ) to over 90 per cent , improve the maturation of projects included in the PIB and accelerate the implementation of financing agreements for a more consistent use of resources from bilateral and multilateral cooperation.
During the presentation to the council of ministers, Cameroonian Prime Minister Philemon Yang said strong growth along with job creation were the two mainstays of the national development strategy that public authorities have been implementing for five years.
He said a more significant increase in the PIB would have an immediate beneficial effect on the country.