About 60 billion FCFA has been saved in the last six months after the State of Cameroon reduced public spending .Experts say this is understood as the ratio of total budget spending to gross domestic product (GDP), the state’s lifestyle has declined significantly from previous years.
“For 2020, therefore, in the amending finance law, awaiting ratification by the parliament after the order of the head of state, spending entering the lifestyle of the state has decreased. Thus, purchases of goods and services went from 3.3% of GDP to 3.1%, that is, in absolute value, an envelope of around 40 billion FCFA. As for transfers and subsidies, initially budgeted at 2.5% of GDP, they have dropped to 2.4%. This represents a little more than 20 billion FCFA, according to our sources at the Ministry of Finance. In total, more than 60 billion FCFA was saved for the last six months of the fiscal year.”
According to the Director-general of the budget at MINFI, Cyrille Edou Alo’o, in the columns of the newspaper: “the festivities marking the feast of National Unity (May 20) and the celebration of International Labor Day on May 1 are cancelled positions which made it possible to reduce the current expenditure envelope. As well as the postponement of the organization of certain sporting events such as CHAN, CAN and other national or international competitions. The cancellation of missions abroad and across the country, the cancellation of seminars and workshops, as well as the subsidies to certain companies and public establishments, also contributed to the saving of this amount.
The Director-general of the Budget affirms that: “the 60 billion FCFA thus saved will be quickly reallocated to the National Solidarity Fund for the Wight against the coronavirus and its economic and social repercussions”,
