喀麦隆经济2025更新第四版：喀麦隆的绿色黄金释放森林和自然资本的价值（英）2025

Cameroon´s Green Gold UNLOCKING THE VALUE OF FORESTSAND NATURAL CAPITAL © 2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NW, Washington DC 20433Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved. This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and con-clusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, orthe governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the dataincluded in this work and does not assume responsibility for any errors, omissions, or discrepancies in the information,or liability with respect to the use of or failure to use the information, methods, processes, or conclusions set forth. Theboundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment onthe part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such bound-aries. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges andimmunities of The World Bank, all of which are specifically reserved. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, thiswork may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Attribution—Please cite the work as follows: “World Bank. 2025. Cameroon Economic Update: Cameroon’s Green Gold:Unlocking the Value of Forests and Natural Capital. Washington, DC: World Bank.” All queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H StreetNW, Washington, DC 20433, USA; e-mail: pubrights@worldbank.org. Acknowledgements This edition of the Cameroon Economic Update was prepared by a World Bank team co-led byFrancis Ghislain Ngomba Bodi (Economist, EAWM2) and Samba Ba (Senior Economist, EAWM2),and composed of Chris Belmert Milindi Katindi (ET Consultant, EAWM2) Ryan Milan Rafaty (GovernanceSpecialist, EGVPI), under the supervision of Robert Utz (Lead Economist, EAWM2). The report benefitedfrom insights and comments provided by Kanta Kumari Rigaud (Lead Climate Change Specialist,SAWE1), Sugandha Srivastav (Consultant, Lecturer in Environmental Economics, University of Oxford). The team benefited from guidance from Cheick Fantamady Kante (Country Director, AWCC1), SandeepMahajan (Practice Manager, EAWM2), Guillemette Jaffrin (Operations Manager, AWCC1), GenevièveBoyreau (Program Leader, EAWDR) and Nabil M. Chaherli (Sector Leader, SAWDR). Pinar Baydar(Operations Analyst, EAWM2), Irene Sitienei (Program Assistant, EAWM2) and Sandra Ouakam (TeamAssistant, AWCC1) supported the team during the preparation of the report. The findings, interpretations, and conclusions expressed in this publication do not necessarily reflectthe views of the World Bank’s Executive Directors or the countries they represent. The report is basedon information available as of June 16, 2025. The World Bank team welcomes stakeholder feedback onthe content of the Cameroon Economic Update. Please direct all correspondence to Francis NgombaBodi (fngombabodi@worldbank.org) and Samba Ba (sba3@worldbank.org). Photo credit: O. Hebga/ World Bank. Table of Contents Chapter 1–State of the Economy: Strengthened but insufficient growth7 1.1 Recent Global and Regional Economic Development71.2 Recent Growth and Inflation Dynamics in Cameroon91.3 External Sector: the current account deficit narrowed due to cyclical factors161.4 Fiscal Accounts and Debt: Fiscal Slippage and Slight Increase in Public Debt201.5 Monetary aggregates and Financial Sector Soundness26 2. Medium Term Economic Outlook30 2.1 Global and Regional Economic Outlook302.2 Domestic Growth and Inflation Outlook302.3 Current Account Outlook312.4 Fiscal and Debt Outlook322.5 Outlook is less optimistic compared to the previous year332.6 Risks to the outlook352.7 Structural Issues and Challenges in Cameroon37 Chapter 2–Building and preserving Cameroon’s wealth for better livelihoods41 4.Implications of Cameroon’s Forest Ecosystem Service Accounts (FESA)for economic development and policy63 References Executive Summary This fourth edition of the Cameroon Economic Updates is part of a program of annual reportsanalyzing Cameron’s development trends and constraints.It examines Cameroon’s economicperformance within the global and regional economic conditions, highlighting the importance ofwealth accounting for a sustainable forestrymanagement. Stagnant Economic Growth Amid Cooling Inflation and Fiscal Slippage in 2024 Global economic growth stabilized in 2024, supported by easing inflationary pressures and theinitial phases monetary policy loosening across both advanced econ