(Business in Cameroon) – Between January and March 2024, Cameroon’s government spending on goods and services rose by 11.3%, according to a report on national accounts published by the National Institute of Statistics (INS). Despite this “significant increase,” which helped boost overall consumption in the country by 1.9%, the INS noted that consumption growth slowed compared to the 4% growth seen in the previous quarter.
The report highlighted that the positive effects of increased public spending were offset by private consumption, which grew by only 0.5% during the same period. This slow growth in private consumption was “hindered by 5% inflation during the quarter, making goods and services more expensive for households.”
In addition, the INS pointed out that the decline in demand for construction-related products (-16.4%), furniture (-15.7%), and chemicals (-17.8%) further slowed overall consumption in the country during this period.
