Cameroon: 2012 State Budget - Focus on Achieving Sustained Growth, Employment

Barely four months to round off the 2011 fiscal year, discussions are already on course on the nature of the country's State budget for 2012. Stakeholders involved in the drawing up of the budget are currently meeting in Yaounde to look at the context, vision and stakes at hand that could guide in coming up with a realistic budget capable of boosting growth and employment, identified as tools of catapulting the economy to an emergent one by 2035.

Speaking yesterday during the opener of the three-day brainstorming seminar at the Yaounde Conference Centre, the Minister of Finance, Essimi Menye, said the confab was mainly to explain the procedure for drawing up the 2012 budget. But the themes handled by the seminar participants coupled with the 10-year development plan contained in the Growth and Employment Strategy Paper, the 2035 vision for the country and the global challenges, notably the debt crisis in one of the world's leading continents, speak of concerted efforts to weather storms and ensure sustained growth and employment. Among the topics under discussion at the seminar are the 2035 vision and the Growth and Employment Strategy as basis of planning and drawing up of the 2012 budget. Understandably so because the growth strategy is expected to bear visible fruits, which fruits would be assuring of the feasibility of the 2035 vision. The growth strategy which is the first segment (2010-2020) of the long-term development vision targets raising annual growth rate to 5.5 per cent, reducing underemployment rate from 75.8 per cent to less than 50 per cent as well as reducing the rate of income poverty from 39.9 per cent in 2007 to 28.7 per cent in 2020.

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