Financial Year 2020: Understanding State Budget Execution

The Settlement Bill of the Republic of Cameroon for the 2020 financial year tabled in Parliament on November 12, 2021 explains the execution of the budget.

Government, just a day after the opening plenary sitting of Parliament in the National Assembly and Senate for the third ordinary session of the 2021 legislative year on November 12, 2021, tabled the Settlement Bill of the Republic of Cameroon for the 2020 financial year. The bill contains details on the execution of the State budget for the 2020 financial year. The State budget in revenue and expenditure authorisations for the 2020 financial year amounted to FCFA 4 409 047 000 000, following the supplementary estimates resulting from the Covid-19 health crisis, with a direct impact on some aspects, such as the non-tax revenue trends and the increase in the price of a barrel of oil, which remained below the assumptions of the initial finance law. Government in the bill states that the net revenue collected during the 2020 financial year stood at FCFA 3 134.2 billion, against the revised forecasts of FCFA 2 741.5 billion, representing an execution rate of 114.3 per cent. The results, government further explains, is because of the good performance achieved in the collection of oil (158.8 per cent) and tax (107.9 per cent) revenues, which largely exceeded the revised forecasts. Concerning expenditure, it is stated that as at December 31, 2020, the general budget execution amounted to FCFA 3 886.1 billion, as against a projection of FCFA 3697.7 billion, recording a 105.1 per cent execution rate. In detail, recurrent expenditure stood at FCFA 2 824.3 billion, as against a revised projection of FCFA 2 443.4 billion, representing a 115.6 per cent execution rate. As for capital expenditure, government said that it ...

Reactions

Comments

    List is empty.

Lead a Comment

Same category