(Business in Cameroon) - According to Cameroon ministry of Finance (MINFI), the country’s public debt paid during the first semester of 2017 decreased by CFA17.1 billion. This represents a 6.1% decrease compared to the amount paid in 2016. Indeed, at the end of the first semester of 2017, the public debt paid was CFA263.1 billion while, at the end of the first semester of 2016, it was at CFA280.2 billion.

This means that 96.6% of the amount planned to be paid (CFA272.5 billion) was settled. It thus remains CFA9.3 billion. As far as the external debt is concerned, CFA88.9 billion was paid by the end of H1 2017 against CFA111.8 billion over the same period in 2016 (a 20.5% decrease or CFA22.9 billion). “Nearly 100% of the public debt planned to be paid was solved and, there are no outstanding external debts,” MINFI officials commented.

By the end of June 2017, Cameroon’s internal debt repayment has evolved by CFA5.8 billion (3, 5% increase). Indeed, Cameroon’s government repaid CFA168.4 billion in internal debt at the end of June 2016. In June 2017, the total internal debt paid was CFA174.2 billion or 95% of the planned CFA183.5 billion amount.

“To ensure a better implementation of Cameroon’s budget, in a challenging economic environment, the government took some measures since July 2017. The measures aim to improve non-oil tax revenues, budgetary regulation and public spending efficiency”, MINFI’s officials said.

Sylvain Andzongo