Social and Economic failures of a flailing Cameroon 🇨🇲

According to the World Bank, Cameroon's national debt was estimated to be US$15.81 billion in 2020. This is equivalent to 44.86% of the country's Gross Domestic Product (GDP). The government has estimated that the national debt will increase to US$17.46 billion by 2027, which is equivalent to 47.72% of the country's GDP.

However world bank says, Cameroon's Gross Domestic Product (GDP) for the last decade (2010-2020) has been steadily increasing, with a median GDP of $42.66 billion in 2020. This is equivalent to a growth rate of 4.3% per year. So, Cameroon's debt-to-GDP ratio has steadily increased over the last decade, reaching 44.86% in 2020. This is higher than the median debt-to-GDP ratio for sub-Saharan Africa, which is currently estimated to be 39.3%.

But Cameroon generally allocates its spending towards health, education, infrastructure, and social programs. The government has established a National Investment Budget to prioritize investments in strategic sectors such as agriculture, energy, and transportation.

Additionally, the government has been working to increase public spending on social programs such as health and education. It is also investing in infrastructure projects such as roads, bridges, and railroads. In percentages though, Cameroon allocates the majority of its spending towards health (11.7% of GDP), education (7.4% of GDP), infrastructure (7.2% of GDP), and social programs (4.4% of GDP).

Cameroon is however not poor, but we have a high poverty rate. According to the World Bank, about 32.4% of the population of Cameroon lives below the national poverty line. This rate is higher in rural areas, with 55% of the poor living in rural areas. Additionally, the rate of inequality is increasing in the country, with the wealthiest 10% of the population holding about 40% of the country's wealth.

This is the truth though, according to the World Bank, the average monthly salary in Cameroon is approximately $375 USD. This salary is sufficient to cover basic necessities such as food, housing, and transportation. In addition, the cost of living in Cameroon is relatively low, with basic services such as healthcare and education being affordable for most people. To live a normal life in Cameroon, one should aim to earn at least the average salary or more. Here’s the deal, jobs that pay around 400 USD in Cameroon include administrative assistants, accountants, teachers, and customer service representatives. Additionally, some hospitality and tourism jobs, such as hotel managers and tour guides, can pay around this amount. Finally, skilled trades such as electricians and plumbers can also make around 400 USD per month. But these jobs are extremely rare or expensive to get into either through education, or the employment complex

Now with a tax rate as high as 38% and a fixed 2.2% or 5.5% on revenue, it is hard to see a feasible means of making above the murky waters of the economic complex in Cameroon. But if taxes only account for approximately 17.8% of Cameroon's GDP, with this figure including both direct and indirect taxes, such as income, corporate, and value-added taxes, then where does Cameroon make all that much GDP and why is it not increasing the living standards in the country?

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