The 2018 state budget of Cameroon has technically been launched in all the ten regions across the ten regions as the country prepares for two major events, the various elections scheduled this year and the 2019 Africa Cup of Nations.
The budget which stands at FCFA 4513.5 billion relies heavily on four measures that are the combatting corruption and fraud, mobilising non petroleum financial revenues, vocational training and the promotion of innovation.
For the budget to be effectively consumed, the State needs to fight against corruption, fraud and embezzlement of state funds which leadsto enormous loss in revenue. The government will also ensure the payment of the Value Added Tax (VAT) is an obligation.
However, the first important measure for an effective budgeting is the mobilisation of non-petroleum financial resources. Hence, new taxes will be introduced such as the airport tax that officially moves from FCFA 10.000 to FCFA 25.000 while specific excise duties on gambling and other entertainment activities have been set at a unit price of 25 FCFA.
The promotion of vocational and health training will be a major focus of the budget given private educational, training and health institution will be exonerated from several taxes. These institutions will be exempted from paying property tax on buildings that host their institutions and activities.
The 2018 budget largely takes into account the major events in the country notably the various elections which will consume 50 billion FCFA. Another major event which will consume the budget will be preparations for the African Cup of Nations (CAN) with the construction of various infrastructure to host the event.