For the year 2019, the Cameroonian government's budget is estimated at 4850.5 billion CFA francs, an increase of 161 billion francs (+ 3.4%) when compared to that of 2018.
The presentation of the budget took place on Wednesday 21st November 2018 at the National Assembly and was presided over by Prime Minister Philemon Yang.
The government counts on a growth of about 4.4% in 2019, against 3.8% in 2018 according to Philmon Yang (quoted by the government-run newspaper Cameroon Tribune).
The government gave priority to the construction of infrastructures to host the forthcoming AFCON2019, acceleration of the process of decentralization, Security and organization of municipal and legislative elections come 2019.
According to the proposal of the finance law tabled before the deputies, the 2019 budget will be absorbed by current expenditures that will reach 2465.5 billion CFA francs (+124 billion compared to 2018). Public investment will amount to 1327.6 billion francs, while the public debt is estimated at 1057.4 billion francs.
On the revenue side, the government expects FCFA 3349.5 billion, of which FCFA 2899.5 Billion will come from non-oil resources and Fcfa 450 billion from oil revenues. Similarly, broadening the tax base as planned by the government will generate new revenues. These will come from the extension of the scope of the excise duty to imported soft drinks, cosmetics, second handed goods like clothes, cars, car parts etc.
There will also be the introduction of an alternative form of collection of customs duties and taxes on imported phones. The download of softwares for gadgets will also be evaluated with a taxable rate.
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| Prime minister, head of government Philemon Yang |
The presentation of the budget took place on Wednesday 21st November 2018 at the National Assembly and was presided over by Prime Minister Philemon Yang.
The government counts on a growth of about 4.4% in 2019, against 3.8% in 2018 according to Philmon Yang (quoted by the government-run newspaper Cameroon Tribune).
The government gave priority to the construction of infrastructures to host the forthcoming AFCON2019, acceleration of the process of decentralization, Security and organization of municipal and legislative elections come 2019.
According to the proposal of the finance law tabled before the deputies, the 2019 budget will be absorbed by current expenditures that will reach 2465.5 billion CFA francs (+124 billion compared to 2018). Public investment will amount to 1327.6 billion francs, while the public debt is estimated at 1057.4 billion francs.
On the revenue side, the government expects FCFA 3349.5 billion, of which FCFA 2899.5 Billion will come from non-oil resources and Fcfa 450 billion from oil revenues. Similarly, broadening the tax base as planned by the government will generate new revenues. These will come from the extension of the scope of the excise duty to imported soft drinks, cosmetics, second handed goods like clothes, cars, car parts etc.
There will also be the introduction of an alternative form of collection of customs duties and taxes on imported phones. The download of softwares for gadgets will also be evaluated with a taxable rate.