Business in Cameroon25 Nov 2020 13:41
For the next fiscal year, the government is counting on internal revenue and donations amounting to CFAF 3,456.6 billion, an increase of CFAF 506 billion, an increase of 17.2%. They break down as follows: 393 billion for oil and gas revenues; 2,743.1 billion in tax and customs revenue; 213.5 billion in non-tax revenue and 106.9 billion for donations.
As regards the expenditure of the general budget (4670 billion), the breakdown by broad masses is as follows: 2 335.5 billion for current expenditure (excluding interest); 1,352 billion for capital expenditure; 982.4 billion for the public debt. The 2021 finance bill notes that a reduction of CFAF 66.5 billion has been taken into account, concerning the principal of the external debt vis-à-vis G20 public donors.
The overall budget deficit resulting from the above assessment of revenue and expenditure stands at CFAF 661.7 billion, thus corresponding to an adjustment level of 1.7% of GDP of said deficit compared to 2020. .
In addition to the need related to the financing of the budget deficit in 2021, other financing and cash charges total CFAF 820.3 billion and consist of the following items: 327.5 billion for the amortization of the external debt ; 287.8 billion for the domestic debt; 72 billion for the reimbursement of VAT credits; 66.5 billion; 20 billion for the net exit for the benefit of correspondents.
To finance this budget deficit, which amounts to CFAF 1,484.9 billion in total, the government intends to use the following instruments: drawing on project loans (703.4 billion); issuance of government securities (350 billion); bank financing (102 billion) and budget support (260 billion).
Among the innovations, the government indicates that this finance bill completes the rationalization of special purpose accounts, strengthens discipline and raises from 40 to 200 billion, the ceiling of endorsements and guarantees granted by the State to institutions and public companies as well as private companies.
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