Central Africa's CEMAC sees 2011 growth at 4.8 pct: c.bank
Economic growth in the six-nation Central African CEMAC bloc will reach 4.8 percent in 2011, up from 4 percent last year, the grouping's regional central bank said on Thursday.
Governor Lucas Abaga Nchama said inflation would fall to 1.8 percent this year from 2.1 percent in 2010.
Most of the countries in the bloc, which includes Cameroon, Central African Republic, Chad, Congo Republic, Equatorial Guinea and Gabon, have oil-dependent economies, though they are trying to push through policies aimed at diversification.
Nchama said the positive forecast was due to increased global growth, an uptick in the private sector activity in the region, a push to develop infrastructure, improvements in energy projects and the start-up of key mining projects.
The region's top performer will be Congo Republic, though growth in 2011 is seen down at 10.4 percent from 10.5 percent.
Improvers for the year include Cameroon, which will be up at 3.7 percent from 3 percent, CAR, up to 4.7 percent from 2.6 percent, Equatorial Guinea, inching up to 1.6 percent from 1.3 percent and Chad, whose growth is forecast at 7.6 percent, up from 6.1 percent.
Growth in Gabon is seen falling to 4.8 percent from 6.1 percent.
Central Africa has produced oil for years, or in some cases, decades, and the region is rich in minerals, but corruption is rife, the business environment is regularly criticised and governments are accused of squandering revenues.
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