Growth in Central African regional bloc seen at 5.7 pct in 2012

YAOUNDE (Reuters) - Economic growth in the six-nation Economic and Monetary Community of Central African States (CEMAC) will hit 5.7 percent in 2012, the monetary union's central bank said in a statement received by Reuters on Thursday.

The CEMAC zone, which uses a common CFA franc currency, has already experienced two straight years of improved growth with output of 5.1 percent in 2011, up from 3.9 percent in 2010.

"The macroeconomic outlook should remain positive in 2012 with a growth rate of 5.7 percent," the statement from the Bank of Central African States read.

Inflation in the zone is expected to rise to 3.2 percent this year, up from 2.7 percent in 2011 and 1.6 percent in 2010, said the Bank, whose administrative council met in Congo Republic's capital, Brazzaville, earlier this week.

The CEMAC bloc is comprised of member states Cameroon, Congo Republic, Gabon, Equatorial Guinea, Central African Republic and Chad.

Source: http://news.yahoo.com/growth-central-african-regional-bloc-seen-5-7-053351169--business.html

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