Considering the insecurity rocking the territorial delimitation of Cameroon: from Boko Haram in the Far North to the Anglophone separatists in the North and South West regions, the government of Cameroon has opted to allocate the sum of 124,212 billion FCFA as the military expenditure for 2018.
This amount as part of the global sum of 238,910 billion FCFA is dedicated to financing military logistics, human and technical operations as crisis and insecurity persist in the national triangle.
The 238,910 billion defense ministry budget comes after the 2018 finance bill was passed by parliament during the December parliamentary session and promulgated into law by the president of the Republic last Wednesday
Comparatively, the state of Cameroon has been dangling with security issues since 2014 with the advent of Boko Haram attacks in the Northern Part and currently the persisting Anglophone Crisis in the two English Speaking regions.
Though the country’s economy is still resilient with an annual growth rate of (2%) as of July 2017 according to tradingeconomics.com, I fear a recession if fall in oil prices is systematically accompanied by continuous focus and expenditure on the military.
However, speaking to Africaninfolook.com, Dr. Nwahanye commented that though increase military expenditure affects greatly the national economic growth rate, it will take the combination of other variables such as fall in the prices of raw materials produced in Cameroon, fall in custom duties as a result of the economic partnership agreement with the EU and most of all if insecurity in the far North and the Anglophone crisis escalates and persists for a longer time then we will be talking about Cameroon tackling an economic recession in the near future.