Stakeholders from different sectorial ministries and State institutions are meeting in Yaounde to evaluate execution and propose solutions to improve PIB performance. President Paul Biya had instructed the government to accelerate efforts to ensure population gets access to basic life-changing basic necessities.
Cameroon’s Public Investment Budget (PIB) execution has come under review in Yaounde with stakeholders scrutinising what has been realised during the second quarter of the 2018 fiscal year and what corrective measures to take to surmount noticeable obstacles. It was revealed during the opening session of the second quarter review meeting that runs from July 16-20 that the Public Investment (PIB) execution rate stands at 37, 93 per cent as at June 30, 2018. This figure, the Director General of Economy and Programming of Public Investment in the Ministry of the Economy, Planning and Regional Development, Isaac Tamba acknowledged while opening the get-together, has dropped compared to the same period last year.
Thus, the review meeting, he insisted, is for the different stakeholders to assess the physical and financial execution of the projects, identify problems and propose solutions to the difficulties that are impeding the smooth execution of the PIB. It is also incumbent for the participants to identify projects with high risk of abandonment in the course of the financial year. The one-week evaluation meeting with each ministerial department and institutions taking turns to present projects under its administration is also taking cognizance of recent reforms linked to the current economic context notably the Economic and Financial programme with the IMF, Public Contracts Code amongst others.
Economy and Public Investment Programming Director General enumerated some of the measures taken to improve on the performance of the public investment budget which includes; contractual procedures in conformity to the new Public Contract Code, execution of investment subvention credits and projects jointly funded, measures within the framework of subventions accruing from counterpart funds as well as those related to the disbursement of funds from external resources. These new measures if respected by different PIB stakeholders, Mr Tamba said, will greatly contribute to the improvement of the performance of the public investment budget. Cameroon’s PIB for the 2018 fiscal year it should be recalled, stands at FCFA 1, 403.8 billion as commitment authorisation and FCFA 1, 291.5 billion as payment credit. External resources to include grants, counterpart funding amongst others, stands at FCFA 596 billion.