REPUBLIQUE DU CAMEROUN Paix-Travail-Patrie MINISTERE DES FINANCES REPUBLIC OF CAMEROUN Peace-Work-Fatherhood MINISTRY OF FINANCE
# RELEASE AT THE END OF THE ANNUAL CONFERENCE OF CENTRAL AND EXTERNAL SERVICES OF THE MINISTRY OF FINANCE
Yaoundé, on 12 February 2021
The Minister of Finance, Mr Louis Paul MOTAZE, on Friday 12 February 2021 at 2 p.m. chaired by videoconference, the annual conference of the central and external services of the Ministry of Finance.
Four points punctuated the discussions, namely: (i) the presentation of the assessment of the year 2020, (ii) the presentations on the constraints and challenges of the execution of the 2021 budget, (iii) the support and post-Covid19 economic recovery and (iv) directives from the Minister of Finance.
At the start of the proceedings, the Minister of Finance recalled the global context marked by (i) the persistence of the Covid-19 pandemic and its repercussions on the economy and households (ii) the persistence of the harmful effects of the security crisis in the Far North and East regions, and socio-political tensions in the North West and South West regions (iii) the need to revive our economy through support for the private sector.
Regarding the assessment of the implementation of the activities of the Ministry of Finance in 2020, the Secretary General presented the remarkable performance of the administrations despite a particularly difficult context, the good performance of the treasury and the effective management of budgetary policy reforms.
Taking the floor in turn, the Directors General in charge of the Treasury, Budget, Taxation and Customs successively presented the constraints and challenges linked to the execution of the budget for fiscal year 2021. As such, the challenges of the harmonious implementation of MINFI’s missions were presented and measures were adopted both to guarantee optimal execution of the State budget and to mitigate the related risks. However, some of them, while relevant, require careful prior consideration.
Regarding the post COVID-19 economic support and recovery plan, the Secretary General recalled the articulations of the said plan as well as the measures to be implemented by each of the MINFI administrations during the 2021 fiscal year. Therefore, the chain of responsibility, the financing methods and the monitoring and evaluation system were presented.
At the end of the discussions, the Minister of Finance praised the performance achieved in 2020 and congratulated his collaborators for their commitment. He instructed the continuation of the reforms already initiated as well as the implementation of new measures contributing to the import substitution policy adopted by the Government. In addition, with regard to the discussions underway with a view to signing a new economic and financial programme with the IMF, he prescribed the continuation of discussions on critical points, in particular debt management, structural reforms and supervision of public enterprises.
The Conference ended at 5 p.m.
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