(Business in Cameroon) - Prime Minister Joseph Dion Ngute (photo) presented, on November 29, 2019, the main points of the 2020 Finance Bill before the national assembly. Compared with the XAF5,212 billion budget planned by the 2019 finance act, the budget (XAF4,951.7 billion) for the 2020 finance act is down by XAF260.3 billion in absolute terms and 5% in relative terms.
According to the Prime Minister, this decline is guided by a concern to rebalance public finances in the medium term, to better rationalize public spending and to optimize the mobilization of domestic non-oil revenues.
In the finance act, internal revenues amount to XAF3,719.2 billion. They are divided into oil revenues (XAF443 billion), tax and customs revenues (XAF2,962.2 billion), non-oil revenues (XAF212 billion), and grants (XAF102 billion).
As for external financing, they amount to XAF1,304.5 billion distributed as follows ; XAF115.5 billion from budget support, XAF767 billion from project loans’ disbursements, XAF320 billion from public securities, and XAF102 billion from bank financing.
Projected expenditures amount to XAF 4159.7 billion and consist of XAF,2663.4 billion in current expenditure, XAF1,496.3 billion in capital expenditure, and XAF792 billion for other financing and treasury expenses.