Yaoundé - 21 March 2023 -
Public management

Paul Biya validates 5.2% salary increase in Cameroon

Paul Biya validates 5.2% salary increase in Cameroon
  • Comments   -   Wednesday, 08 March 2023 18:49

(Business in Cameroon) - Cameroonian President Paul Biya signed a decree on March 6 validating the 5.2% increase in the salaries of civil and military personnel. This salary increase, which has been effective since February, was announced in late January 2023 to help the beneficiaries navigate the recent surge in fuel prices.

The government said it is a way to "guarantee the purchasing power of consumers" in the face of the measures taken to “preserve budgetary balances after the prices of oil products soared on the international market”. However, the acceleration of product prices on the local market that accompanied the entry into force of the new finance law and the new fuel prices raises concerns that the wage increase will not be sufficient.

Indeed, following the increase in fuel prices, the government approved an increase in taxi fares reaching 25% for some services. The special tax on petroleum products was also extended to natural gas. All of these measures contribute to the acceleration of prices on the local market, with inflation projected at 6% in 2023 by the IMF, double the tolerance threshold of 3% allowed in the CEMAC zone.


The President of the Central African Republic, Faustin Archange Touadéra, has pledged to respect the rules governing the financial environment of the...
During their latest meeting last March 17 in Yaoundé, the Cemac Heads of State decided on a gradual revision of the monetary cooperation framework with...
The volume of bank credit received by large companies in the Cemac region dropped by 18.2% year-on-year in the third quarter of 2022, official Beac data...
The Cameroonian Hygiene and Health Company (Hysacam) explained, in a statement published this week, the reasons behind the recent disruptions in its waste...

Mags frontpage

Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer

Albert Zeufack: “Today, the most important market is in Asia”

Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir

Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »