Settlement Bill For 2018 Financial Year : Finance Minister Presents General Overview

Louis Paul Motaze defended the bill which seeks to establish the final amount of the State Budget for the 2018 financial year as executed in revenue and expenditure

The Minister of Finance, Louis Paul Motaze has before the Committee on Finance and the Budget of the National Assembly on November 15, 2019 defended bill No 1060/PJL/AN which is the Settlement bill of the Republic of Cameroon for the 2018 financial year. The bill prepared pursuant to Law No 2018/12 of July 11, 2018 Financial Regime of the State and other public entities, seeks to establish the final amount of the State budget for the 2018 financial year as executed in revenue and expenditure. Going by an explanatory statement of the bill, the law was implemented in an economic context marked by several factors at the national and international levels. At the international level, its implementation was marked by a slowdown in global growth estimated at 3.7 per cent as against 3.8 per cent in 2017 and increased inflation experienced by some of Cameroon’s trading partners. At the national level, the implantation was met by an improved economic activity characterised by a growth rate estimated at 4.0 per cent in 2018 against 3.7 per cent in 2017, the disbursement of budget support resources by development partners following the successful conclusion of the third review of the Economic and Financial Agreement and the positive trends in world oil prices. Minister Louis Paul Motaze noted that the bill which highlights the different execution levels of the State budget for 2018 clearly shows the differences in the implementation of programmes, based on commitment authorisation and payment appropriations voted.

Concerning budget balance, the difference between execution in revenue (FCFA 4,909,518,700,140) and in expenditure (FCFA 4, 809, 688, 885, 393) showed a FCFA 99,829 814 747 budget surplus. The bill comprises six sections with tables showing by budget item, in revenue and in expenditure, initial appropriations, amendments made during the year and actuals with their respective rates. Status of government bonds issued, general account of the State as at December 31, 2018, government’s financial effort for local authorities, execution status of special appropriation accounts are other aspects well elaborated in the bill.

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