(Business in Cameroon) - A Cabinet Council was held on 31 October 2012, at the 'Immeuble Etoile' in Yaoundé under the leadership of Prime Minister Philemon Yang. The Council focused on the state of preparation of the State budget for the next fiscal year. Finance Minister, Alamine Ousmane Mey, explained that for the 2013 fiscal year, the expenditure profile will continue « to be marked by increasing capital spending expected to reach 29.6% of State budget, in line with the major achievements policy. These expenditures should also contribute to achieving the objectives of the Growth and Employment Strategy Paper ». This was revealed by the press release issued after the meeting and signed by the Director of Cabinet at the Prime Minister's Office, Ghogomu Paul Mingo.

In his presentation, the Minister of Economy, Emmanuel Nganou Djoumessi, stated that « the projects contained in the capital budget are not only sufficiently embedded in the development strategy of Cameroon, but also have a level of maturity that guarantees the rapid start of their implementation». He called for the increased use of public-private partnership contracts for the construction of public infrastructure.

The programme budget, which should spread over a three-year period, will also be launched in 2013. Emmanuel Nganou Djoumessi further explained that the adoption of commitment appropriations valid for three years, should ensure a more fluid implementation of projects lasting over a year.

« The improvements expected in the governance of projects will concern, among others, strengthening implementation effectiveness, cost control, putting an end to project interruptions due to the rigidity of the principle of budget annuality », the communiqué added.

With regard to budget revenue, Alamine Ousmane Mey said that the tax pause will continue to be observed. « The search for efficiency in the collection of resources will translate into measures to expand the tax base, improve revenue securement and some corrective and harmonization measures » he added.

With regard to Customs, « the planned adjustments seek to promote exports in general, encourage local wood processing prior to export and facilitate contentious customs procedures ».

Moreover, the Cameroonian government will pursue its efforts in 2013, with the issuing of public securities to finance the State budget.

B-O.D.