(Business in Cameroon) - During the parliamentary budgetary session that opened today November 11, Cameroon’s 2022 budget will be presented to MPs. According to internal sources at the Ministry of Finance, the said budget is balanced to XAF5,762.4 billion. It is up by XAF282 billion (+5.1%) compared with the XAF5,480.4 billion retained in the amended 2021 finance law.
The budget submitted to the parliament is higher than the XAF5,649.7 billion projected by the Ministry of Finance during the budget orientation debates. Nevertheless, it integrates all the guidelines issued by the debate and the presidential circular related to its elaboration.
The budget plans for a 4.4% GDP growth, 1% higher than the 3.4% expected in 2021 and 0.7% recorded in 2020.
This optimism is based on economic recovery in the country following mitigation of the Coronavirus pandemic. It is worth mentioning that the pandemic persists nevertheless. Authorities even condition the achievement of the 2022 budgetary objectives to effective controls of the pandemic.