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Cameroon’s 2020 budget drops by 5 percent.
Cameroon’s 2020 budget drops by 5 percent.
Cameroon’s 2020 budget has experienced a drop of 5 percent as compared to that of 2019.
PM Joseph Dion Ngute last Friday tabled 4951.7 billion CFA as finance bill for 2020, representing a drop of 260.3 billion in relative terms from last year’s 5212 billion FCFA.
The draft bill which is balanced in revenue and expenditure was tabled during a plenary session at the National Assembly on Friday, 29th November 2019 during which he also presented government’s Economic, Financial and Cultural Programme for the 2020 fiscal year.
For close to two hours, the Prime Minister made a vivid review of 2019 before detailing out prospects for 2020.
He said that Government’s focus during current the year which is in its last quarter was to consolidate the achievements of previous years and to handle the different objectives and challenges tilted towards the furtherance of peace, national unity, social cohesion and the spirit of togetherness.
Prospects for 2020
In the New Year, Government will continue to consolidate peace, social cohesion and national unity which are indispensable for the emergence of the country.
The year 2020 will also be marked by the holding of the twin municipal and legislative elections in the country. Government also intended to speed up the decentralisation process as well as the implementation of the special status for the North West and South West regions.
In view of enhancing economic growth, government also envisages projects to enhance the socio-cultural, economic and infrastructural development of the country.
The Prime Minister called for vigilance in the face of looming insecurity and threats to peace that the country is bound to face in the year 2020.
The next year which will begin only a few months after the holding of the Major National Dialogue, will also be marked by multifaceted actions designed to meet the country’s goals.
Government also banks on consolidating past achievements and maintaining the dynamic on institutional and structural reforms as well as projects that will propel the country to emergence.
Government’s priorities for 2020 will be financing infrastructural projects towards
the African Nations Championship, Chan 2020 and African cup of Nations, AFCON 2021; continued implementation of National Emergency plan to accelerate growth – Triennial Youth Plan; Finalisation of Major Infrastructural Projects; Development of Digital Economy – Industrialisation; and Second Generation Agriculture.
Projected Budgetary Policy for 2020
Government has projected a budgetary policy for 2020 that seeks to balance public finances at medium term and continue the mobilisation of non oil internal revenue.
The 4951 700 million CFA Francs draft finance law for 2020 fiscal year is expected to enhance economic growth and propel the country to emergence.
Prime Minister Joseph Dion Njute called on the people’s representatives to support the programme and its implementation under the stewardship of the President of the Republic Paul Biya.