Development Trump Card

The structural transformation of the economy and inclusive development are some of the basic goals that the “National Development Strategy 2020-2030-NDS 30” launched recently to replace the Growth and Employment Strategy Paper (GESP) sets out to achieve within the next decade. This development trump card featured prominently in the Head of State’s traditional end-of-year message to the nation last December 31, 2020. This of course, couldn’t have been otherwise if one were to take two challenging things into consideration. These are; one, the coming to an end of the implementation of the Growth and Employment Strategy Paper (GESP)  and two, the nefarious effect of certain factors epitomized by the COVID-19 pandemic on the economy pulling down growth rate to undesirable level. “It is expected that our growth rate, which had stabilized at around 4% in recent years, will witness a sharp decline in 2020 and that inflation will inch up. This is undoubtedly due to the impact of the global economic downturn and our domestic economic trends, especially the increase in security spending, the Head of State said.
The NDS 30 is surely expected to be the magic one to reverse the negative trend and put the country back on its rails on or before 2030. The document as recalled by President Biya in his speech draws lessons from past experiences and sets new goals for the next decade. The content of the ten-year programme appears ambitious and this tells of the hope rekindling confidence that could be spotted out in the President’s speech. “Nonetheless, Cameroon’s economy has maintained a certain capacity to rebound despite the difficulties. Thanks to support from our international partners and, in the event of a decline in the pandemic, there is reason to hope for recovery in the coming months.” In effect, the new strategy is conceived within a context marked by the implementation of an economic and financial programme with the IMF under the Extended Credit Facility (ECF) following the unfavourable fluctuation in the prices of raw materials, including oil.
The NDS30 is ushering in another approach in the whole gamut of actions aimed at putting the country on the pedestal of emergence by 2035. The National Development Strategy 2020-2030 is based on lessons learned in the implementation of the Growth and Employment Strateg...