Minepat: Focus On Structural Transformation Of Economy

Minister Alamine Ousmane Mey defined the 2019 plan of action during the Annual Conference that brought together central and devolved services of the Ministry.

Officials of the Ministry of the Economy, Planning and Regional Development (MINEPAT) have resolved to harness all efforts towards the structural transformation of Cameroon’s economy as it moves towards emergence by 2035. The Annual Conference of the Ministry held on Tuesday January 29 in Yaounde, under the auspices of the MINEPAT boss, Alamine Ousmane Mey in the presence of other members of government, development and technical partners as well as representatives of the private sector. Speaking at the event placed on the theme “Structural transformation of the Cameroonian Economy to Accelerate Emergence,” Minister Mey stressed the strategic role his Ministry plays in the drawing up, follow-up and evaluation of government development policies. The “Greater Opportunity Train,” he said, has majestically taken off on November 6, 2018, journeying towards emergence with orientations given by President Paul Biya during his oath-taking and endof-year addresses to the nation  respectively. MINEPAT which is at the centre of all development policy, the Minister added, is therefore hinging on these prescriptions in order to move Cameroon towards emergence. For this to be attained, Minister Mey heaped on, there must be structural transformation of the economy. On this note, industrialisation, modernising agriculture and processing of local raw materials must be accentuated in order to reduce importation of goods and services and better the balance of trade which he said is on a deficit of FCFA 818.1 billion. The private sector, he noted, must also play a preponderant role while the government is relentlessly improving the business climate. With a morose global economic  situation that has characterised the world of recent, Cameroon economy has not been spared even though it showed resilience with a growth rate slightly improving to 3.9 per cent of  GDP in 2018 and inflation rate contained at 2 per cent. Though the performance remains fragile, the MINEPAT boss expressed optimism that if the strategic reforms are activated with priority sectors boosted, Cameroon’s emergence will not be farfetched. Reason why, the post- Growth and Employment Strategy Paper (GESP) will entail better planning, rigorous programming and appropriate budgeting in order to meet the objectives of Cameroon emergence by 2035. The Annual Conference featured presentations on thematic issues such as “Re-equilibrating current balances by developing priority sectors, Strategic frameworks to accelerate emergence and the contribution of the private sector to Cameroon’s emergence, amongst others.”

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