logoBC
Yaoundé - 29 March 2024 -
Public management

Cameroon: Trade tensions, Sonara fire among other things, forced 5% YoY reduction of 2020 budget (Director-General for Budget)

Cameroon: Trade tensions, Sonara fire among other things, forced 5% YoY reduction of 2020 budget (Director-General for Budget)
  • Comments   -   Friday, 20 December 2019 15:37

(Business in Cameroon) - In an interview published today December 20, 2019, by Cameroonian magazine Expression économique, Cyrille Edou Alo’o, Director-General for Budget, explains the reasons for the 5% year on year decline in Cameroon’s 2020 budget.

 “The budget is exposed to external and internal risks, which can influence its implementation. Hence the need to take into account the macroeconomic reality and outlook, internal and external socio-economic factors that is. Externally, we have taken into account, among other things, certain risks that could affect global economic growth. These include uncertainties related to international trade tensions between the United States and China, the slowdown in economic growth among our trading partners, and the continued volatility of commodity prices, particularly for crude oil and cocoa,” he explains.  

Internally, Mr. Edou Alo'o indicates, continued insecurity in the Northwest and Southwest regions and a deteriorating socio-political climate before and after the upcoming legislative and municipal elections in February 2020 could hamper ongoing fiscal consolidation efforts.

According to the official, the persistence of socio-political tensions in the Northwestern and Southwestern regions in the 2019 fiscal year and the May 2019 fire at SONARA severely disrupted economic activities, leading to a drop in tax revenues. “All these indicate the prudential logic in which this budget was drawn up and explains the slight decline you have seen,”  Cyrille Edou Alo’o concludes.

Sylvain Andzongo   

eu-pledges-over-cfa12bn-for-entrepreneurship-and-electricity-access-support-in-cameroon
The EU agreed to disburse over CFA12 billion to support growth-driven projects in Cameroon. The two related deals were signed in Yaoundé on March 26...
central-africa-set-for-highest-economic-growth-in-a-decade-amid-inflation-concerns
Growth within the Cemac region is expected to peak at 3.6% this year, according to the estimates of Beac’s Monetary Policy Committee (MPC), which met on...
mtn-cameroon-sees-record-growth-with-cfa325-7bn-revenue-in-2023-amid-market-challenges
MTN Cameroon reported a robust revenue of CFA325.7 billion for 2023. According to data released on the Johannesburg Stock Exchange in South Africa, this...
cameroon-s-customs-enforces-air-cargo-regulations-threatens-fines-for-non-compliance
Edwin Fongod Nuvaga, the Director-General of Customs in Cameroon, has issued a reminder to airlines about their obligations to comply with standard...

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 »