National Assembly: Gov’t tables over 8,816 billion FCFA State budget for 2026.

It was defended before the Finance and Budget Committee of the National Assembly, yesterday by the Minister of Finance, Louis Paul Motaze.

The 2026 State budget registers an increase from the 7,335.9 billion FCFA of 2025, representing 1,080.5 billion FCFA in absolute terms and 14.0% in relative terms.

The government bill projects the comprehensive budget at 8,683.9 billion FCFA in 2026, that is an increase of 1,014.9 billion FCFA (+13%) compared with 7,669.0 billion FCFA in 2025.

The bill makes provision for the allocation of Special Appropriation Accounts which stands at 132.5 billion FCFA, representing an increase of 65.6 billion FCFA from 66.9 billion FCFA in 2025.

Meanwhile, the domestic revenue in the 2026 comprehensive budget is estimated at 5,887.0 billion FCFA, giving an increase of 452.2 billion FCFA compared to 2025. 

Government is expecting 523.7 billion FCFA as revenue for oil and gas; 4,889.5 billion FCFA revenue from taxation and customs; 400.0 billion FCFA non-tax revenue; and 73.8 billion FCFA in grants.

The draft legal instrument also shows budgetary expenditure excluding debt principal which stands at 6,210.5 billion FCFA in 2026, a 564.2 billion FCFA increase compared to 2025. 

It further previews the main expenditure as follows: personnel expenditure (1,625.4 billion FCFA); goods and services (1,206.0 billion FCFA); transfers and subsidies (820.3 billion FCFA); interest on debt (532.5 billion FCFA); and investment expenditure (2,026.3 billion FCFA).

Slight increase in investment budget

Going by the Finance Bill, there will be a slight increase in the Public Investment Budget, PIB, for 2026. The BIP will represent 35.7% of primary expenses in 2026, slightly above the 35.5% of 2025. 

However, as a share of the State budget, the PIB will see a decline from 24.2% in 2025 to 22.8%. In addition, the 2026 State budget shows an overall deficit of 631.0 billion FCFA, compared to 309.9 billion FCFA in 2025, which echoes an increase of approximately 327.1 billion FCFA in budgetary financing requirements. 

In addition to the deficit, the Finance Bill states that the government will need to meet other obligations such as amortization of domestic and external debt estimated at 1,870.6 billion FCFA; repayment of Value Added Tax, VAT, credits totalling 84.0 billion FCFA; settlement of domestic arrears amounting to 498.8 billion FCFA; and the net cash outflow of about 20.0 billion FCFA.

Taking these expenditures into account, government's financing requirement for the 2026 financial year, according to the bill, stands at 3,104.2 billion FCFA, compared with 2,326.5 billion FCFA in 2025, representing an increase of 777.5 billion FCFA.

To meet financing requirements, government is relying on: project loans (826.7 billion FCFA); issuance of government securities (400 billion FCFA); bank financing (589.7 billion FCFA); budget support (120 billion FCFA): exceptional financing (167.8 billion FCFA); and external borrowings (1,000 billion FCFA).

Introduction of new taxes

In addition to introducing new tax, customs and non-tax measures, the 2026 Finance Bill incorporates a number of innovations, including: the elimination of common chapters and their replacement with two allocations for unplanned and unforeseen expenditure housed respectively in the Ministry of Finance (operating budget) and the Ministry of Economy, Planning and Regional Development (investment budget).

Another innovation is the revised presentation of the budgets of some sovereign institutions, now expressed as allocations; full implementation of the Decree on State budget nomenclature; and division of the Fund for the Reconstruction of the Far North, North West and South West Regions into two separate funds to enhance efficiency.

Creation of special fund to empower youth, women

In keeping with the commitment of the Head of State made last November 6, in his inaugural address, to empower women and youth, the 2026 Finance Bill has made provision for a Special Fund to be endowed with 50 billion FCFA to support women's economic empowerment and promote youth employment.

In 2026, government's overall fiscal policy is set to continue focusing on consolidating public finances in accordance with the CEMAC Convergence Pact, while ensuring the effective implementation of the priority objectives of the National Development Strategy (SND30).

Economic context

The Finance Bill has been prepared against a backdrop of global instability marked by successive economic, geopolitical and health shocks. As a result, global economic growth is projected at 3.1% in 2026, compared with 3.2% in 2025 and 3.3% in 2024.

Economic activity in the CEMAC zone is expected to recover following a slight slowdown in 2025, with growth projected to rise from 2.6% in 2025 to 3.3% in 2026.

At the national level, economic growth is expected to improve, reaching 4.3% in 2026, up from an estimated 3.9% in 2025. The growth would be driven primarily by the strong performance in the non-oil sector, while the oil sector is expected to contract slightly by 0.1% in 2026. Inflation is expected to fall from 3.2% in 2025 to 3% in 2026.

This article was first published in The Guardian Post Edition No:3639 of Friday November 28, 2025