Cameroon growth forecast drops from 4.4% to 3.9%

By SIMON NDIVE KALLA Due to the May 31, 2019, fire outbreak at SONARA, Cameroon had to revise its growth forecast for 2019 from 4.4% to 3.9%, the 2020 finance bill reveals. Due to that same fire, the bill adds, the Directorate-General for Taxation recorded a counter-performance of about FCFA 70 billion on SONARA. Charred remains of SONARA’s Production units Customs revenues recorded on August 31, 2019, a loss of about FCFA 63 billion representing FCFA 44 billion of arrears and about FCFA 20 billion of current charges. In addition, there was FCFA 60 billion of liquidations outstanding and FCFA…