According to the IMF Executive Board, Cameroon’s economy is estimated to have grown by 3.1% in 2025. Growth was weaker than earlier projections, largely due to election‑related disruptions that affected trade, investment and services. Inflation eased to an average of 3.4% by December 2025, supported by declining food and transport prices.
The IMF said Cameroon’s fiscal position deteriorated in 2025, with the non‑oil primary deficit widening to 2.6% of gross domestic product (GDP), above the budget target of 1.4%. This was driven by weaker non‑oil revenue collection and overspending on current expenditures. The current account deficit also widened to 3.9% of GDP, reflecting lower oil export receipts.
The IMF projects growth to recover modestly to 3.3% in 2026, supported by higher public investment. Inflation is expected to decline further to 2.9%. However, the current account deficit is forecast to expand to 5.3% of GDP due to lower cocoa prices.
Over the medium term, growth could rise to 4.6% as mining diversification advances, while the current account deficit is expected to narrow to 4.0% of GDP. The outlook, however, remains vulnerable to global commodity price volatility, tighter global financial conditions, reduced aid flows, security risks and climate shocks.
The IMF noted that the recent rise in oil prices linked to the Middle East conflict may have a limited short‑term impact, as higher oil revenues are partially offset by fuel subsidies. Directors stressed the need to adopt an automatic fuel pricing mechanism with targeted support for vulnerable households.
Executive Directors called for stronger fiscal consolidation to safeguard debt sustainability and support regional stability in the Central African Economic and Monetary Community zone. They urged authorities to strengthen revenue mobilisation, improve expenditure control, complete fuel subsidy reforms and prioritise concessional financing over costly commercial borrowing.
The IMF also highlighted the high risk of debt distress, elevated non‑performing loans and the need to reinforce governance in state‑owned banks. Accelerating reforms to exit the Financial Action Task Force grey list and strengthen climate resilience were also identified as priorities.
–IMF/ChannelAfrica–
