The Bank of Central African States (BEAC) published an economic and statistical bulletin outlining slower growth and a widening current account deficit for the Central African Economic and Monetary Community (CEMAC) in 2026. Regional growth is projected at 2.9%, compared with an estimated 3.5% in 2025, as growth in activities outside oil production moderates from 4.3% to 3.3%. Average annual inflation is forecast at 2.3%, remaining below the regional ceiling. The fiscal deficit, measured on a commitments basis excluding grants, is expected to narrow to 2.2% of gross domestic product (GDP) in 2026 from 4.8% in 2025, principally through higher revenue from sources other than oil. By contrast, the current account deficit, including official grants, is projected to widen to 5.2% of GDP from 2.9%. Lower oil export prices and volumes, alongside increased goods imports, account for much of that deterioration. Foreign exchange reserves are projected to rise 9.9% to XAF 6,958.5 billion by the end of 2026, covering 4.52 months of imports, compared with 4.22 months in 2025. This would follow a 13.2% decline in reserves during 2025. As monetary policy background, the bulletin reviews the April 2, 2026, decision to retain the main refinancing rate at 4.75%, the marginal lending facility rate at 6.25% and the deposit facility rate at zero.
Bank of Central African States reviews outlook for 2.9% regional growth and a wider current account deficit in 2026
The Bank of Central African States' economic bulletin projects growth in the Central African Economic and Monetary Community to slow to 2.9% in 2026 from 3.5% in 2025, with inflation at 2.3%. The fiscal deficit excluding grants is expected to narrow to 2.2% of gross domestic product, while the current account deficit including official grants widens to 5.2% as oil exports weaken and imports rise. Foreign exchange reserves are forecast to recover to 4.52 months of import cover by the end of 2026, from 4.22 months in 2025.