logoBC
Yaoundé - 08 December 2019 -
Public management

CEMAC: Budget revenues to rise by 7% to CFA9,030bn in 2018

CEMAC: Budget revenues to rise by 7% to CFA9,030bn in 2018
  • Comments   -   Wednesday, 12 September 2018 15:14

(Business in Cameroon) - This year, CEMAC’s budget revenues are expected to reach CFA9,030 billion, up 7% from last year. According to the Bank of Central African States (Beac), the improvement is mainly driven by higher oil and gas revenues (+31.3%, to CFA3,570.9 billion).

This translates, in details, into an increase in crude oil barrel prices (+5.8% to $62.3 per barrel), an appreciation of the euro against the dollar as well as a recovery in oil production (+4.6%, to 45.2 million tons), particularly in Equatorial Guinea and Chad, and to a lesser extent in Cameroon.

Moreover, non-oil revenues should also increase, though at slower pace than expected (+8.8% instead of +13.9%), to CFA5,459.2 billion. This is the result of a downward adjustment of tax revenues by 5.3% to CFA5,027.2 billion, due to weaker increase than expected in non-oil activity (+1.8% against +2.1%). Though non-tax revenues are expected to grow by 5.0% to CFA431.9 billion, the amount is insufficient to offset the fall in non-oil incomes.

The central bank plans to cut CEMAC’s budget spending by 5.4% to CFA9,193.6 billion, to match the adjustment programs with the International Monetary Fund (IMF) in four countries (Cameroon, Congo, Gabon and Chad).

Under this strategy, current expenditure would fall by 1.9% to CFA6,431.8 billion, drawn by a 14.5% decline in goods and services expenditure to CFAF 1,644.0 billion in all CEMAC countries, and to a lesser extent to a slight decrease in wages and salaries (-0.4% to CFAF 2,552.5 billion).

Sylvain Andzongo

cameroon-new-issuance-of-fungible-treasury-bills-on-beac-market
On December 4, 2019, the Cameroonian Treasury proceeded to the issuance of a 26-week fungible treasury bills on the market of the Bank of Central African...
cameroon-35-of-gas-stations-are-located-in-rural-areas-ministry-of-energy
In Cameroon, 35% of the 835 gas stations in operation as of October 28, 2019 (for the 54 state-approved companies), are located in rural areas. This was...
cameroon-increased-daily-drinking-water-production-by-96-376-m3-between-2018-and-2019
In Cameroon, the national drinking water production increased from 731,080 m3/day to 824,456 m3/day between 2018 and 2019, according to recent data from...
cameroon-safacam-plans-to-invest-xaf3-5-bln-to-extend-its-oil-palm-and-hevea-plantations-in-dizangue
In Cameroon, the Ministry of State’s Property and Land Tenure recently granted an additional 2,000 hectares of land to Société Africaine forestière et...

Mags frontpage


Business in Cameroon n81: November 2019

The growing weight of Moroccan banks in Cameroon


Made in Cameroon products gradually take over supermarkets


Investir au Cameroun n91: Novembre 2019

Le poids croissant des banques marocaines au Cameroun


Le Made in Cameroon progresse dans les supermarchés