(Business in Cameroon) - Between January and September 2019, Cameroon collected XAF2,008 billion of non-oil revenues, the Ministry of Finance reveals. Compared with the XAF2,039 billion collected during the same period in 2018, these statistics indicate a decline by XAF31.4 billion in absolute value and a 1.5% drop in relative value year over year.
“This poor performance is explained by the under-achievements recorded at the level of tax and non-tax revenues. Tax revenues are affected by the slowdown in economic activity, whose growth rate (3.9%) is below that adopted during the vote on the finance law (4.2%), and is reflected in the decline in the turnover of large companies,” the Ministry of Finance’s experts explain.
According to the same source, the decline recorded at the end of September 2019 compared with the same period in 2018 is even more significant, compared with the collection targets set at the beginning of 2019. Indeed, the collection target was set at XAF2,282.7 billion for the period under review, revealing an achievement rate of only 88%.