18/06/2025
MEGA ONLINE SCHOOL ARTS
CAMEROON HISTORY
Tutor ENOW MARTIN EGBE
677941606
Lesson : ECONOMIC CRUISES IN CAMEROON
In Cameroon by the 1980s and 1990s a serious economic crises was experience in Cameroon.
*Evidences of the economic crises in Cameroon*
1] The national debt in Cameroon between 1987 - 1988 witness a fall or drop to almost 20% compared to the other years
2] The government workers or civil servants salaries witness drop during the economic crises
3] There was increase cost of living in Cameroon due to increase house rents, hospital bills and schools fee during the crises
4] There was a regulation of the allowance of government workers inorder to reduce expenditures
5] The government closed down unprofitable commercial enterprises as Cameroon Bank, SCB, CELLUCAM during the economic crises inorder to drop government expenditures on maintaining machines and payment of labour
6] There was increase rate of unemployment due to fall or drop in the recruitment of government workers or civil servants by the government
7] There was an increase in the internal and external debt of the country due to high borrowing of money from the world bank, ADB, and friendly countries
8] There was increase poverty rate in both rural and urban areas making it difficult for the population to meet up their basic needs as food, clothing and shelter
9] There was fall or decrease standard of living of citizens due to fall in number of farmers as many people are searching for white collar jobs.
10] It reduced the consumption level of low income earners due to increase prices of products in the market from food stuffs to clothing.
*CAUSES OF THE ECONOMIC CRISES*
A] INTERNAL CAUSES
1] The increase government expenditures on military for their training and purchase of weapons and Armor cars to ensure security of the country lead to economic crises
2] There was increase mismanagement and embezzlement of public funds by politicians lead to economic crises