Cameroon - Fiscal policy for growth and development
Cameroon's growth achievement is disappointing and the country is not likely to meet most of the Millennium Development Goals (MDGs) on its current trajectory. Underemployment is extremely high, with risks of social unrest and instability. The...
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| Format: | Other Poverty Study |
| Language: | English |
| Published: |
World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20101121234047 http://hdl.handle.net/10986/2934 |
| Summary: | Cameroon's growth achievement is
disappointing and the country is not likely to meet most of
the Millennium Development Goals (MDGs) on its current
trajectory. Underemployment is extremely high, with risks of
social unrest and instability. The fallout of the current
global economic crisis is making more challenging the
attainment of growth targets foreseen in the new Growth and
Employment Strategy (DSCE) and in the new vision 2035. This
overall picture hides an even more worrisome divide between
urban and rural areas, among provinces, and between farmers
and all other socioeconomic groups. Cameroon has ended up in
this situation as a result of several factors, including a
legacy of poor public finance management, weak governance,
and inequitable distribution of resources. The report also
argues that the Government has the capacity to use fiscal
policy as an effective instrument to address the legacy,
governance, and distribution issues that are constraining
growth, while providing basic services and necessary public
goods to the population. The Government is committed to
reviving growth and job creation, in line with vision 2035,
and the recommendations in this report could help it to
achieve these goals. The Government needs to act quickly,
however, as the costs of delaying reforms can be high. It
also needs to engage with the private sector, for example,
in public private partnerships in the energy sector. |
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