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Finance

Cameroon cleared budget arrears up to XAF1,266bln in 2018

Cameroon cleared budget arrears up to XAF1,266bln in 2018
  • Comments   -   Monday, 18 February 2019 13:14

(Business in Cameroon) - Cameroon’s Treasury Directorate (DGT), headed by Moh Tangongho Sylvester, issued a note regarding financial commitments in 2018. According to the document, the government cleared its budget arrears up to XAF1,266.915 billion over the period.

This amount represents about a quarter of the outstanding balance and back in 2017, a government think tank, the analyze and research center for economic and social policies -Camercap- reported Cameroon has reached XAF6,000 in paying arrears of budget and off-budget expenditures, known as “outstanding payments”.

“The provisional situation of the outstanding budget payments by the State and decentralized local authorities as at 31 December 2018 remains manageable,” DGT said.  

This year, the directorate plans to continue reorganizing treasury payment authorities; the main challenge regarding cash management.

“The ongoing actions will significantly reduce the volume of outstanding payments and once completed, will totally clear them,” DGT explained.

S.A

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