"I am pleased to have obtained the funding necessary to continue the growth of Cofina Gabon," Cofina Gabon Chief executive revealed.. "It will allow us to continue to meet the needs of Gabonese SMEs at a very difficult time because of the pandemic of the new coronavirus," Yvan N’na Mboma said.
These payments to the State are distributed as follows: $ 60.3 million to the General Directorate of Hydrocarbons, or $ 46.1 million in kind based on production; $ 12.9 million in royalties and $ 1.3 million in fees. In addition, $ 25.9 million to Gabon Oil Compagny for $ 22.6 million in kind based on...
The Communication Unit of MINFI explains that the creation of certain specialized payrolls with certain ministerial departments is part of "the dynamics of decongesting the expenditure circuit in general and the general payroll of the Treasury in particular. The ultimate goal is to reach the ratio of a payer for each ministerial department. Sources familiar...
"The amending finance bill for the year 2020 is part of a particular context marked by the spread of the Covid-19 worldwide with consequences for the national economy," the government says. The rectification of the initial budget takes into account several hypotheses. This is to maintain oil production at 10.4 million metric tonnes; a drop...
Among the major innovations of this finance law, as described in the ordinance of the President of the Republic, there is the creation of a special allocation account called "Special National Solidarity Fund for the fight against coronavirus and its economic and social repercussions ”. Financed at FCFA 180 billion, the expenses of the said...
This drop in revenue is due to the drop in tax revenue (-587.353) driven by "Value-added taxes and turnover" (-298,017), "Taxes on specific products and excise duties "(-69,022)," Import duties and taxes "(-68.411 billion)," Personal income taxes "(-40,794)," Petroleum company taxes "(- 39.947). Besides, the other recipes are not doing any better. Thus, the “Revenues...
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...
"This fund is funded to the tune of FCfa 180 billion in the second half of 2020. The expenses borne by the said fund must contribute to the achievement of the objectives set out in the global response plan against the coronavirus pandemic", reads the document signed by Edou Alo'o Cyrill.
"If I take the case of oil, we have made our 2020 finance law on an assumption of a barrel at 54.4 dollars. There we are at less than 30 dollars. You understand that the consequence is immediate, "Minister of Finance Louis Paul Motaze said during the third Extra-ordinary session of the steering committee of...
