Head of Government Paints an Overview 2018 Financial Year

This comes one month to the end of the 2018 financial year and the start of the new mandate of the President of the Republic.

Cynthia EFOPA

The Head of Government, Prime Minister Philemon Yang was on November 21, 2018 in the National Assembly to present an overview of the management of the 2018 state budget and perspectives for the year 2019. Making a balance sheet of the almost ending 2018 financial year, the Prime Minister reiterated that government activities in the year 2018 were mainly centered to consolidate the achievements of previous years and tackle head on numerous stakes and challenges in varied domain of the economic, financial, social and cultural program of the state.

In the social area, the Head of Government voiced that despite a national context marked by security constraints and social agitations, the country exhibited resilience and put up a united front in support of the President of the Republic, Cameroonians did not give up to blackmail or allow themselves to be manipulated by the enemies of Cameroon.

In the budget and finance domain, Minister Yang said the international context negatively impacted growth forecast of the national economy. Due to the unfavorable global context, the implementation of the 2018 State budget at macroeconomic was marked by deep recession and as a result, business was slowed down in emerging countries and in Euro zone, coupled with an increased inflation rate in certain countries. However, urgent measures were induced necessary for the state to restore a fiscal balance.  There was equally more vigorous implementation of program budgeting and the reform of the financial regime of the state. In contrast to macroeconomic, the micro- finance sector appeared quite stable and dynamic. The government was able to mobilize substantial financing in the forms of loans and grants for the implementation of development projects. Also there was a better control of contract execution and as a result the Prime Minister declared that two thousand contracts worth 4 thousand 500 billion, 961 million cfa francs were controlled.

The fight against the embezzlement of public funds up-scale in 2018. There was intensification and diversification of audits and systematic punishment meted out against unscrupulous manager. About 10 audit missions were sent out to some public bodies in 2018, and the systematic sanctions on poor management culminated in the payment of 8 billion 365 million CFA frs in to the state coffers.

In local governance, one of the hallmark was the creation of the Ministry of Decentralization and Local Development on March 2, 2018 by the President of the Republic. Regarding the Africa Cup of Nations, Government is taken every necessary measure to ensure that Cameroon is ready on the D–Day as prescribed by the Head of State. Minister Yang mentioned that government made considerable efforts in implementing other sectorial public policies. Remarkable progress was made in Water and Energy sector, public works, housing, transport, post and telecommunications just to name these few.

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