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Yaoundé - 25 May 2019 -
Economy

Cameroon: Non-oil revenues jumped 111.66% between 2008 and 2018

Cameroon: Non-oil revenues jumped 111.66% between 2008 and 2018
  • Comments   -   Tuesday, 26 March 2019 11:44

(Business in Cameroon) - Cameroonian finance ministry presents budget statistics for the period from 2008 to 2018. Overall revenues improved during the period reviewed.

Non-oil revenues grew from XAF1,277 billion in 2008 to XAF2,703 billion in 2018, up 111.6%. Domestic tax revenues jumped 134.85% from XAF809 billion to XAF1,900 billion. As regard customs revenues, they improved 71.68% from XAF468 billion in 2008 to XAF803.5 billion in 2018 while tax pressure rate was 13% in 2008 and then increased to 16% in 2018.

Despite these good performances, the finance department says, there is still room for improvement since the country still suffers economic crises. “Taxation can contribute to growth, but is not the key growth driver. The size or level of tax levies does not automatically lead to sustained growth or emergence,” the administration says, recommending “a fair, efficient and equitable tax system” so that Cameroon gets back on the track of economic growth and effectively emerging in 2035.

S.A

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