2024 State Budget : Understanding Different Budgetary Allocations

In a decree signed on December 19, 2023, President Biya Biya enacted into law the 2024 Finance Law which was examined and adopted in Parliament during the November session.


A decree signed by the President of the Republic, Paul Biya, on December 19, 2023 promulgated into law the Finance Bill for 2024 which contains the budget of the State for the year. Balanced in income and expenditure, the State budget for 2024 stands at FCFA 6,740 billion 100 million, and represents an increase of FCFA 13.2 billion as compared to the current State budget.
In accordance with government’s economic, financial and cultural programme for the 2024 fiscal year as presented by the Prime Minister, Head of Government, Joseph Dion Ngute, government plans to use the resources for the implementation of structural projects in various sectors. The priorities of authorities, amongst others, remain pursuing measures to improve the living conditions of the Cameroonian people who, like those of most other countries, are facing the consequences of the various crises and other external shocks that are affecting the whole world at the moment. Also prominent in the programme is the promotion of the import-substitution policy with numerous tax incentives for local producers with a view to better enhancing the value of "Made in Cameroon".
To that effect, emphasis will be laid on enhancing the agricultural sector, from where local materials for the production of secondary goods are gotten. Also prominent is the reconstruction of the crisis-hit regions of the Far North, the North-West and the South-West through the special appropriation funds that was initiated last year. Accelerating the decentralisation process through a budget of over FCFA 100 billion also occupied the pride of place in the State budget, whose obj...

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