Financial Year 2020: Finance Minister Explains Settlement Bill

Finance Minister Louis Paul Motaze on November 15, 2021 defended the Settlement Bill of the Republic of Cameroon for the 2020 financial year in the Committee on Finance and Budget of the National Assembly chaired by Hon. Rosette Moutymbo epse Ayayi. This was in the presence of the Minister Delegate to the Minister of Finance, Yaouba Abdoulaye and the Minister Delegate at the Presidency in charge of Relations with the Assemblies, Bolvine Wakata.  

The Settlement bill contains the State budget for the 2020 financial year which stood in revenue and expenditure authorisations at  FCFA 4 409 047 000 000, following the supplementary estimates resulting from the Covid-19 health crisis, with a direct impact on some aspects, such as the non-tax revenue trends and the increase in the price of a barrel of oil, which remained below the assumptions of the initial finance law.

In the bill the net revenue collected during the 2020 financial year stood at FCFA 3 134.2 billion, against the revised forecasts of FCFA 2 741.5 billion, representing an execution rate of 114.3 per cent. The results, government further explains, is because of the good performance achieved in the collection of oil which stood at FCFA 428.2 billion (158.8 per cent) and tax amounting to FCFA 2563.0 billion (107.9 per cent) revenues, which largely exceeded the revised forecasts.

Concerning expenditure, Minister Louis Paul Motaze explained to MPs that the net expenditure of the general budget was FCFA 3 928.0 billion, including net loans of FCFA 41.8 billion out of revised allocations of FCFA 3 926.3 billion, representing an execution rate of 98.9 per cent. Ex...