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Public management

Cameroon: Budget spending dropped 0.8% year-on-year to XAF2,959.7bln in late September 2018

Cameroon: Budget spending dropped 0.8% year-on-year to XAF2,959.7bln in late September 2018
  • Comments   -   Tuesday, 08 January 2019 12:32

(Business in Cameroon) - Over the first 9 months of 2018, Cameroonian total budget spending stood at XAF2,959.7 billion, the finance ministry (Minfi) revealed. Figures are slightly down 0.8% (-XAF23.1 billion) from the XAF2,982.8 billion the same period in 2017.

Compared to the XAF3,518.8 billion expected over the period reviewed, the amount reflects an implementation rate of 84.1%. In detail, current expenditures were implemented at 87.5% while investment spending were achieved at 102% and 54.7% for the public debt servicing.

The weak performance of the public debt servicing is primarily the result of the non-structured debt that was subject to an audit and whose clearance plan is being prepared,” Minfi mentions. The ministry also stressed that there are no arrears on external debt nor on public securities (treasury bills, bond issues, Eurobonds), as commitments and repay deadlines have strictly been respected.

S.A

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