By Godlove BAINKONG, Cameroon Tribune, 29-11-2013
Prime Minister, Philemon Yang, on November 28, 2013, presented government’s 2014 economic, financial, social and cultural programme at the National Assembly.
The government of Cameroon is seeking ways of laying a solid foundation to attain emergence by 2035. The 2014 State budget, the second in the new public finance results-driven system, “Programme Budget” is tailored towards that. The 2014 government’s economic, financial, social and cultural programme presented at the National Assembly yesterday November 28, 2013 by Prime Minister, Philemon Yang, targets growth-induced and job creation sectors which, he said, seeks to honour the Head of State’s commitments and lay the foundation for making Cameroon a middle-income economy by 2035.
What Balance Sheet For 2013?
The Prime Minister noted that the year going by had challenges but government was able to make strides which will be consolidated and new measures sought to make 2014 better than 2013. The perennial problem of public contract award, he said, witnessed improvement. “Contract award timeframes have reduced by about 30 per cent in normal procedure and 50 per cent in procedure of urgency, falling from 90 to 70 days and from three months to one and a half month respectively,” he said. Schools were constructed, roads developed, health centres and other structures, he noted, were constructed and government continued with the modernisation of the management of State resources.
2014 Income & Sources
The Head of Government noted that the FCFA 3, 312 billion State budget for 2014, up from 3, 236 billion of 2013, is drafted on macroeconomic hypotheses that are consistent with domestic economic prospects such as Gross Domestic Product (GDP) of 4.8 per cent and an inflation rate of about 2.8 per cent. Mr Yang said the budget projects internal resources of FCFA 2, 983 billion against FCFA 2, 912 billion in 2013, representing an increase of FCFA 71 billion in absolute terms and 2.43 per cent in relative terms. Non-oil revenue, he noted, is projected at FCFA 1, 985 billion, representing an increase of FCFA 28 billion compared to the FCFA 1, 957 in 2013. Meanwhile, oil revenue is estimated to be FCFA 718 billion against FCFA 705 billion for 2013, representing an increase of FCFA 13 billion. Bonded issues are projected to bring in FCFA 280 billion against FCFA 250 billion in 2013. External resources are projected to bring in FCFA 329 billion against FCFA 324 billion in 2013.
Priority Areas For 2014
The Head of Government disclosed that expenditure will focus on the fight against poverty and high living cost by increasing the allocation of investment budget resources to growth sectors. Among the targeted areas for 2014, the Prime Minister said, will be boosting infrastructure development to trigger growth. Against this backdrop, government, he said, will construct 500 linear metres of bridges and open 1,500 km of feeder roads. Energy, the PM observed, is essential for achieving the country’s growth vision and the construction of oil and gas terminal at Kribi with capacity of 216,000 m3 of white product and 30,000 m3 of natural gas and petroleum products, will be enhanced. A FCFA 410 billion ten-year development programme is to be undertaken by CAMWATER to provide the country with quality and quantity water.>>>