State Budget Preparation : The Priorities

The President of the Republic, Paul Biya in Circular No. 001/CAB/PRC of 23 August 2022 relating to the preparation of the State budget for the 2023 financial year, gave specific guidelines and practical preparation measures to the Prime Minister, Head of Government, Ministers of State, Ministers, Ministers Delegate and Regional Governors.

Objectives Of Budget
After stating the global, regional and national macroeconomic context within which the budget is being prepared, the Head of State, insisted on special emphasis. The budget is therefore tailored at the finalisation and commissioning of the remaining first-generation projects, continuation of the preparation of major second-generation projects, strengthening of social cohesion and decentralisation, implementation of the import substitution policy, reconstruction of the crisis-affected North West, South West and Far North Regions, as well as maintaining security  and health monitoring.
President Paul Biya stated that the objective will still be to consolidate economic recovery and accelerate structural transformation. This will be done while strengthening inclusive growth in order to steer the country back to the path of emergence. To achieve this, security, economic, fiscal, social and governance action levers would have to be prioritised.  Specifically, priority will be to maintain security monitoring and strengthen the disarmament, demobilisation and reintegration process.

Practical Measures
The 2023 State budget, President Paul Biya said, will have to be prepared in accordance with the principles laid down by Law No. 2018/012 of 11 July 2018 on the Fiscal Regime of the State and other Public Entities and in accordance with Decree No. 2019/281 of 31 May 2019 to establish the State budget calendar. This means that the programming budgeting approach has to be continued and consolidated. Budgetary options have to be directed towards activities that contribute to achieving expected results.
The Head of State has made it clear that emphasis on the 2023 State budget will be on increasing the mobilisation of non-oil revenue, as well as controlling and improving public spending efficiency. He enumerated actions to the taken to increase the domestic mobilisation of non-oil revenue in the domains of taxes specifically broadening of the tax base, promotion of tax compliance and monitoring of taxpayers, respect of local ta...