Economic Development:FCFA 180 Billion Available

 After a meeting with GICAM executives last Friday, the Minister of Finance announced that the State will pump the money into the private sector soon.

Cameroon will soon release FCFA 180 billion into its private sector, the Minister of Finance, Alamine Ousmane Mey has said. The Minister made the disclosure in Yaounde, Friday August 18, 2017, following concerns raised by executive members of the Employers’ Association of Cameroon (GICAM) over internal debts and value added taxes. The GICAM executives led by their new President, Celestin Kamanou Tawamba, had an introduction meeting with top officials of the Ministry of Finance.
Going by Alamine Ousmane Mey, the Government shares in the vision of GICAM as well as the difficulties being faced by enterprises in the country. “The Head of State has instructed us to deliver proper solutions to the problem of value added tax. With respect to the current economic situation, some of our commitments need to be addressed such that companies executing some of our operations and realizing some of our projects would be paid accordingly. Globally, FCFA 180 billion will be injected into our economy in the days to come. This is going to help our banking system to have more liquidity. FCFA 80 billion will be given to this banking system in the form of repayment of debts of the State of Cameroon.  FCFA 100 billion, additional to the FCFA 80 billion, will be paid to enterprises in contract with the State,” the Minister of Finance told reporters after a working session with GICAM representatives. He said all the measures are geared towards propelling the economy and making sure that the private sector which is playing an impor...