Cameroon Risks Perishing In Economic Misery After October 7 Presidential Elections

Cameron’s economy is on a steady decline with no signs of resilience. We might trade through barter: how? It has been difficult for the government to raise 12 billion for the so called emergency humanitarian assistance plan for the North West and South West Regions as slightly above 63% of that amount was raised.

In the 2018 PIB, a special allocation was set aside worth 50 billion for the organization of elections in 2018. Many pondits initially saluted this move as the Senatorial, Parliamentary, Municipal as well as the anticipated Regional elections were to consume this sum.

Postponement of the parliamentary and Municipal elections did not match with any eventual financial cut on the initial sum. The expected regional elections are still floating constructive response. Even the legislative and municipal elections were equally postponed.

Whilst the total number of presidential contenders dropped from 35 in the 2011 polls to 9 in the 2018 race, there was a sharp cut on the financial proportion of candidates by 50% that is from 30 million to 15 millions in 2011 to 2018 respectively.

On this same political sneer, the budget allocation increased based on the stake of our political impulse and the the geopolitical will to achieve a fair and transparent election.

Unfortunately, more than 3,655 polling stations have been annulled in the North West and South West regions for reasons of insecurity. Just when we expect the authorities in charge to start submitting first time records of a balance sheet with a left-over, we instead see another frustrating public order requesting an urgent fundraising worth 700 millions for the Ministry of Territorial Administration (MINAT), in relation to this same elections.

Where is the 50 billion allocated for the elections in 2018?

As per capital income continues to drop and growth rate decreases from 6% to 3.14% in 2015 and 2018 respectively, there are indications that more jobs will be lost.

The economic crisis has derailed the pace of direct investments pushing down our rate of doing business. The activities of about 1600 SMEs have been halted in the North West and South West with an estimate of 400,000 direct and indirect jobs already lost since the second semester of 2018. Rural agriculture is not longer sustainable, and as the crowdy Urban metropolis like Douala and Yaoundé get an inflation in its population, living standards are falling as prices of basic comodities are being increased.