The Finance Bill of the Republic of Cameroon for the 2018 Financial Year has been tabled before the Parliament for further consideration.
The Finance Bill N° 1019/PJL/AN which was presented during a Plenary Sitting presided by the House Speaker at the House Chamber this Monday November 27 was drafted in accordance with the guidelines issued by the Head of State in Law N° 1/CAB/PR of June 20, 2017.
This law sets the pace for the adoption of the State Budget of the 2018 Financial Year of the Republic of Cameroon.
The 2018 state budget will see an increase of FCFA 139.7 billion compared to 2017, considering the fact that the balance of the presented draft has an estimated expenditure of FCFA 4.513.4 billion against FCFA 4.373.8 billion.
In a bid to step up domestic revenue collection, the government’s plans to increase the tax pressure rate from 12.5% in 2017 to 12.9% in 2018, cut public expenditures and control its borrowing rate.
According to Hon. Joshua Osih of SDF Parliamentary group, the Finance Bill has been presented about 55 days after the expected dateline. He feels the government owes the house some explanations regarding the Anglophone Crisis before this Finance Bill is defended.
The Prime Minister and Head of Government, H.E Philemon Yang is now expected to present government’s vision relating to this bill before it is defended in the days ahead.