(Business in Cameroon) - On January 9, 2018, Daniel Ona Ondo, president of the committee of the Central African Economic and Monetary Union (CEMAC) has presided a work meeting at the union’s headquarters in Bangui. Apart from the president, Fatima Haram Acyl, the vice-president, Clément Bélibanga and Michel Niama, commissioners and some technical departments’ directors were also present.
The main subject of this meeting was the committee’s budget for 2018. The vice-president who is in charge of this case, has outlined the main points that governed its elaboration. These include the economic environment in the region which is affected by the oil crisis, priorities listed in the roadmap and major projects falling under the regional economic program (Programme économique regional-PER).
Following the review, it was enacted that the committee's budget should be decreased by 10 to 15% this year. In comparison with 2017 budget whose revenues and expenditures were balanced at CFA114.9 billion, this year’s budget could thus be CFA97 billion.
The institution’s head has insisted that the decrease should in no event affect the committee’s activities, rather urging each and every person involved to double efforts to insure that tasks set out for the year are successfully carried out.