REPUBLIC OF CAMEROON PEACE – WORK – FATHERLAND
CIRCULAR No. 001 OF 30 AUG 2021 relating to the preparation of the State budget for the 2022 financial year
# THE PRESIDENT OF THE REPUBLIC,
TO
- THE PRIME MINISTER, HEAD OF GOVERNMENT;
- MINISTERS OF STATE;
- MINISTERS;
- MINISTERS DELEGATE;
- SECRETARIES OF STATE;
- REGIONAL GOVERNORS.
1- This Circular lays down the general budget policy guidelines as well as practical measures for preparing the State budget for the 2022 financial year.
2- While taking into account the global and domestic macroeconomic context, the preparation of the State budget for the 2022 financial year is a continuation of the implementation of the Nation's economic, social and cultural development policy, underpinned by the 2020-2030 National Development Strategy (NDS30) which operationalizes the second phase of Vision 2035. It also takes into account the implementation of Government's response strategy against the Coronavirus and its economic and social impacts, the post-COVID-19 economic recovery plan, as well as the implementation of the new Economic and Financial Programme concluded with the International Monetary Fund (IMF). On the security front, the budget is being prepared in a context marked by the prevalence of polymorphous threats in our country.
3- Specifically, special emphasis will be placed on: (i) finalization and commissioning of major first-generation projects; (ii) strengthening of social cohesion and decentralization; (iii) implementation of the import/substitution policy; (iv) reconstruction of crisis-affected regions, particularly the North-West; South-West and Far-North; (v) organization of the Africa Cup of Nations (AFCON); (vi) continued implementation of
Universal Health Coverage (UHC); (vii) continuation and strengthening of the fight against security threats with a view to sustainably overcoming the security challenges facing our country.
4- The preparation of the budget for the 2022 financial year should build on the activities contained in the updated Public Finance Management Global Reform Plan in order to reinforce the use, preparation, presentation, execution, monitoring and evaluation of the programme budget.
I. MACROECONOMIC CONTEXT
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5- The State budget for the 2022 financial year is being prepared amid an international environment marked by a fragile recovery of the global economy, owing to the optimism generated by the increase in vaccinations against the Coronavirus. Nevertheless, the recovery is contingent on many uncertainties regarding the control of the pandemic.
6- According to the IMF, in 2021 the global economy is expected to grow by 6% after a drop of 3.3% in 2020. This trend is explained by: (i) economic support measures in developed countries; (ii) recovery prospects driven by vaccination in the second half of 2021; and (iii) continued adaptation of economic activity to reduced mobility.