Tuesday, 6 December 2016

Cameroon parliament approves FCfa 4373 billion budget for 2017

The Cameroonian members of Parliament adopted early in the morning of 3 December 2016, the 2017 Finance bill proposed by the government. This budget proposal is balanced between revenues and expenditure at FCfa 4,373 billion, in increase by 3% compared to the 2016 budget.
This government budget proposal is now submitted for a second reading to the Senate, the High Chamber of the Cameroonian Parliament, who should ratify it without any major amendments, as per usual.

Developed in a context of drop in the oil revenues, which generally make up 25% of the national budget, the Cameroonian State budget for 2017 establishes over 40 new tax and customs measures, the restoration of previously axed taxes, but also exemptions, in particular on mass consumption products such as rice, or agricultural and breeding equipment and tools.

BRM

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