MINFI: Public finance dialogue platform reviews activities.

This was the focus of a session that took place in Yaounde yesterday. The Minister Delegate to the Minister of Finance, Yaouba Abdoulaye, chaired deliberations.

He recalled that the 12^th session was held on December 15, 2021, after which major recommendations were passed down to actors in the field for implementation.

Yesterday’s session was devoted to assessing the level of implementation of those recommendations. They also carried out a mid-term review of the 2023 operational plan; which the Minister Delegate said dwelled on an updated comprehensive public finance management reform plan; as well as present reform projects on public investment.

Members said the Ministry of Decentralisation and Local Development was able to integrate internal audit system as an integral part of governance in all councils.

Documents handed to journalists showed that, the Senate was able to solicit the sensitisation of lawmakers on financial innovations especially on the Single Treasury Account.

Minister Yaouba said they focused on increasing local production to improve the living conditions of the population. He also talked of the need to reinforce social cohesion and the decentralisation; optimising the reconstruction of the North West, South West and Far North regions.

He said extra measures were taken since 2022 to ensure the reconstruction agenda is achieved. The member of government cited the removal of fuel subsidy. 

An increase of the minimum wage from 36,000 FCFA, to 42,000 FCFA; and public servants salary by 5.2 percent, he said were other measures.

The decisions, he said were arrived at after consultations with the International Monetary Fund, IMF, leading to the opening of new credit lines to the tune of 44 billion FCFA in favour of Cameroon. 

The European Union, EU, Ambassador to Cameroon, Philippe Van Damme said government’s financial reforms are making significant progress. He said, more is however needed to boost transparency.

In the area of funds transferred from the central administration to regional and local councils, he said there is still no transparency.

Van Damme also said the government remains insensitive to climate budgeting. He called for urgent measures to study recommendations made available in the past to meet international standards.