Senate: Scrutiny Of Finance Law On Course

The heartbeat of Parliamentary activities in the ongoing November session of the 2021 legislative year since Tuesday, December 7, 2021 is in the Senate. The President of the Upper House of Parliament, Marcel Niat Njifenji presided at the plenary sitting in which the bill on the Finance Law of the Republic of Cameroon for the 2022 financial year forwarded to the Senate by the Speaker of the National Assembly after adoption in the Lower House of Parliament was tabled.

The bill-tabling plenary sitting was followed by another plenary sitting focused on the debate of the Finance bill that contains the State budget for the 2022 financial year. The Minister of Finance Louis Paul Motaze in the House Chamber in the presence of cabinet ministers presented the economic situation of the Cameroon, context of the elaboration of the budget, objectives, major highlights and priority actions and the major innovations. This was intended to enable the Senators have a grasp of the draft budget before the thorough scrutiny begins in the Committee on Finance and the Budget.

Finance Minister Louis Paul Motaze told the Senators that the 2022 State budget was prepared in accordance with the requirements of the July 2018 law relating to the fiscal regime of the State and other legal documents. The draft State budget for the 2022 financial year is balanced in resources and expenditure at the sum of FCFA 5,752.4 billion as against 5,480.4 billion in 2021, representing an increase of 272 billion (five per cent in relative terms). The objective of the overall budgetary policy remains the medium and long-term sustainability of public finances and the proper implementation of the National Development Strategy 2030 in line with the presidential guidelines contained in the August 30, 2021 ...