Cameroon’s economy grows 3.1% in Q4 2023 despite oil sector slowdown

Cameroon’s economy saw a 3.1% growth in the fourth quarter of 2023, according to a report released on May 7 by the National Institute of Statistics (INS). This growth, compared to the same period in 2022, was driven by positive momentum in the primary and tertiary sectors, contributing 0.6 and 1.8 points respectively to the quarter’s growth. During the same period, the secondary sector experienced a slowdown, contributing 0.4 points to the overall growth. The extraction of crude oil and natural gas had a negative impact of 0.2 points on growth. However, all the other secondary industries performed well during…