Business leaders in Central Africa “anticipate a decline in economic activity in the first quarter of 2023”, according to the business survey published Thursday by the services of the Bank of Central African States (BEAC).
This slump is attributed to declining oil activity and sluggish domestic demand, with area managers saying they are faced with challenges related to domestic and international supply circuits, climatic hazards as well as infrastructural and regulatory problems.
According to research, the primary sector is expected to be burdened by oil and gas activities and food crop production in the first quarter of 2023.
With regard to the secondary sector, it should also show contrasting performances, marked by an expected decline in brewing activity and nuanced prospects for oil mills and flour mills.
As for the tertiary sector, its performance will be contrasted, with telecommunications and rail transport still on upward trends and trade and hotel and catering activity at half mast, mainly due to declining domestic demand.
The BEAC is the central bank of the Economic and Monetary Community of Central Africa (CEMAC), which includes Cameroon, the Central African Republic, the Republic of Congo, Gabon, Equatorial Guinea and Chad.