National Assembly: Finance minister reveals 2025 state budget to witness slight increase.

This was shortly after he presented and defended the Ordinance to amend and supplement certain provisions of the Finance Law of 2024, before members of the Finance and Budget Committee of the National Assembly. 

The committee session which held Sunday, was chaired by the Chairperson of the said committee, Hon Moutymbo Rosette Épse Ayayi.

Members of the committee deliberated and approved Bill N°2060/PJL/AN, to ratify Ordinance N°2024/001 of June 20, 2024, amending and supplementing certain provisions of Law N°2023/019 of December 19, 2023 to lay down the Financial Law of the Republic of Cameroon for the financial year 2024.

Speaking about the bill he defended, the MINFI boss told the press that “because of the transparency that we are looking for, the Head of State has decided that since there are some changes that occurred in the running of the budget, those innovations should put in the budget”.

He went further to hint that the 2025 state budget will witness an increase of up to 7,000 billion FCFA. 

The figure, he said, will represent an upward from the 6,740.1 billion FCFA state budget for 2024, which was balanced in income and revenue.

“The first thing is that there will be a slight increase in the 2025 budget. We are now more than 7,000 billion FCFA,” he stated.

According to the finance minister, the different sources of revenue, such as taxes, customs and cooperation, have increased, except for the oil sector.

“This is very important…it comes from some elements with the first being as far as resources are concerned. We have gained more resources from the customs, taxation and what we earn from our cooperation with partners,” Minister Motaze told said, adding that “there are some other resources that decrease, such as the oil sector”.  

Following the adoption of the Finance Bill by the committee in charge, the bill will then be presented and defended by the finance minister during a plenary sitting for adoption, by the National Assembly. 

It should be recalled that the 2024 budget had an overall increase of 13.2 billion, compared with the Amended Finance Law of 2023. 

The 2024 State Budget had 809.5 billion FCFA from the oil and gas, 2,888.4 billion FCFA from taxes and duties, 1,079 billion FCFA from customs, 315.5 billion FCFA from non-tax revenue, 96.8 billion FCFA from grants, as well as 1,489 billion FCFA from loans. 

This story was first published in The Guardian Post issue No:3163 of Tuesday July 9, 2024