On the night of December 31, Cameroon’s 91-year-old leader, Paul Biya, will address the nation, stating his government’s achievements and what to do next year.
2024 was marked by so many happenings, ranging from high cost of living, accidents, corruption, and insecurity in the central African nation.
Normally, Paul Biya, in his ways, will obviously state that despite the challenges, there has been economic resilience considering that there was an increase in growth compared to 2023.
Economic growth estimated at 3.8 percent
Paul Biya is expected to bang on the forecast of economic growth, which is at 3.8 percent compared to 3.2 percent in 2023.
Also, inflation is estimated at 4 percent in 2024. That would mean a reduction from 6.7 percent last year.
Through these parameters, Paul Biya will definitely show that the Cameroon economy made strides.
Well, these are just figures that his government believes represent how people are faring in the country.
Economic Hardship
There is no gainsaying that in 2024, prices of goods and services only kept increasing.
The living standards have deteriorated because of unemployment, poverty, minimum wage rates, and insecurities.
Take, for instance, flour and rice, which are somehow considered staples in Cameroon. Their prices have doubled. This was caused by numerous increases in fuel prices.
The government this year fixed minimum wage pay at below 50,000 FCFA.
According to statistics, in 2022, each of the 10 million Cameroonians was spending just about 1,000 FCFA a day. That is far below the poverty threshold of 1,500 FCFA a day.
Unemployment predicted at 3.6 percent
Paul Biya, however, will say there have been numerous projects carried out in the country.
Projects in the agriculture and technological fields, as well as in the tertiary sector, which he will say have created jobs.
The president has been against the economic migration of Cameroonian youths, urging them to stay. To him, leaving is not the solution.
However, many people continue to leave because of unemployment.
Earlier this year, police were targeting teachers and doctors at airports.
According to reports, these professionals were leaving for the West for greener pastures.
Construction of Mega Projects
This year, the government installed several megawatts of electricity from the Lom Panga dam construction project. It was aimed at boosting electricity supply despite power outages.
The government also said it realized the construction of roads, especially the Bachenga corridors.
The government said it has also stepped in to assist and revamp the Cameroon Development Corporation.
On the health front, reference hospital centres have been inaugurated in Ngaoundere, Bertoua, and Bafoussam, among other regions.
There is also the universal health coverage, which it says will reduce too much spending, especially from pregnant women.
There is also the construction of the national assembly building, which Biya will say has transformed Yaoundé.
President Paul Biya would surely talk about the need to strengthen decentralization, which has been a long pipe dream.
Introduction of Taxes
There is the personal income tax, which will obviously be part of his speech.
He will definitely argue that the tax is needed to be able to give Cameroonians the life they yearn for.
Probably, he might have to clarify to Cameroonians that his government expected to do this or that next year, which is why they need more money, and that’s why there are taxes.
