REPUBLIQUE DU CAMEROUN PAIX-TRAVAIL-PATRIE REPUBLIC OF CAMEROON PEACE-WORK-FATHERLAND
GOVERNMENT'S ECONOMIC, FINANCIAL, SOCIAL AND CULTURAL PROGRAMME FOR THE 2018 FINANCIAL YEAR
PRESENTED TO THE NATIONAL ASSEMBLY BY
HIS EXCELLENCY PHILEMON YANG PRIME MINISTER, HEAD OF GOVERNMENT
YAOUNDÉ, 28th NOVEMBER 2017
The Right Honourable Speaker of the National Assembly, Honourable Members of the Bureau of the National Assembly, Honourable Members of Parliament, Distinguished Guests, Ladies and Gentlemen,
It is an honour for me to take the floor before this August House to present the Economic, Financial, Social and Cultural Programme, prepared by the Government under the authority of the President of the Republic, His Excellency Paul BIYA, for the 2018 financial year.
I thank the Right Honourable Speaker of the National Assembly for the kind words he said to me and the entire Government.
Honourable Members of Parliament,
Government's Economic, Financial, Social and Cultural Programme for the 2018 financial year comes at a time when we are entering the last year of the 2016-2018 three-year period.
Before charting the prospects that underpin Government action in the 2018 financial year, I will first present to you an
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overview of the main activities that Government conducted in 2017 that is ending.
The Right Honourable Speaker of the National Assembly, Honourable Members of Parliament,
In 2017 particularly, Government took on several challenges. These had to do with:
- the continued implementation of the Three-Year Emergency Plan for Accelerating Economic Growth;
- the launching of the Special Three-Year Youth Plan;
- the intensification of construction works of various sports and related infrastructure, ahead of the 2019 Africa Cup of Nations;
- the continuation of major infrastructure projects underway.
During the year that is ending, our country was outstanding on the continental scene in sports where we shone admirably, winning major trophies like the last Football Cup of Nations organized in Gabon and recently still, the Women’s African Volleyball Championship.
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Furthermore, Government maintained the momentum given by the President of the Republic in terms of aligning Cameroon to the digital economy.
At the budgetary level, the level of implementation of the State budget indicates that on 30 September 2017, resource mobilization was up to CFAF 2 thousand billion 930 million 900 thousand, or 67% of the expected target.
Expenditure implementation, based on payment authorizations, stands at 3 billion 82 million 200 thousand CFAF francs, equivalent to a global rate of 70.47%. Recurrent expenses stand at 1 billion 543 million 700 thousand CFAF francs, while capital expenditure stands at 1 billion 46 million 600 thousand CFA francs. For its part, debt servicing took up 491 billion 900 million CFA francs, making a rate of 67.6%.
As you are aware, in 2017, a three-year Economic and Financial Programme for the 2017-2019 period, backed by an Extended Credit Facility, was concluded with the International Monetary Fund totaling about 400 billion CFA francs.
This reform programme seeks to restore the stability and fiscal and external sustainability of our economy, while improving its competitiveness.
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