2021 Finance Bill : Exactitudes Explained To Senators

The Minister of Finance, Louis Paul Motaze has defended the finance bill for the 2021 financial year before the Finance and Budget Committee of the Senate headed by Senator Elie-Victor Essomba Tsoungu. He defended the draft State budget for next year which stands at FCFA 4 865.2 billion in revenue and expenditure in the presence of the Minister Delegate at the Presidency in charge of Relations with Assemblies, Bolvine Wakata.
In the budget, the domestic revenue and grants are projected at FCFA 3 456.6 billion up by FCFA 506 billion representing a 17.2 per cent increase. As concerns expenditure, the draft budget specifies that overall budget expenditure is broken down into major categories comprising recurrent expenditure excluding interest, capital expenditure and public debt. 
Priority areas and expected outcomes are well outlined in the draft finance bill as well as government’s strategy for the period 2021-2023.  
Explanatory notes from the Minister of Finance indicate that the overall fiscal policy orientation for the 2021 financial year hinges on continued fiscal consolidation efforts to gradually reduce the budget deficit in the medium term.  The draft bill further highlights government’s determination to complete the implementation of major infrastructure projects, boost the Three-year Emergency Plan to Accelerate Economic Growth, support Special Youth-three Year Plan projects and provide facilities required for the organisation of AFCON 2022 and CHAN 2021. 
Government, according to the finance bill will continue with security surveillance, acce...