30 November 2012

Cameroon: Ministry of Economy Budget for Sustained Growth

The Minister of the Economy, Plan and Regional Development, Emmanuel Nganou Djoumessi early Thursday, November 29, 2012 morning defended the 2013 draft budget of the Ministry in the Committee on Finance and Budget of the National Assembly that stands at FCFA 46.429 billion. The ministry intends to use FCFA 12.639 billion as the recurrent budget and FCFA 33.790 billion for capital expenditure.

In the explanatory statement Nganou Djoumessi presented to the people's representatives, he said the budget will be used to step up efforts towards the achievement of a sustained and inclusive economic growth and promote a balanced national territorial development. Key actions will include support to economic revival, enhancement of development planning and intensification of regional development, enhancement of development partnership and regional integration, and finally administration and governance.

Talking to the press after defending the budget, the Minister said part of the budget will go to meet the infrastructure needs of flood victims in the North and Far North Regions. Through partnership, the ministry will equally seek funding for projects like the Bamenda Ring Road, Yaounde-Douala Highway, Menchum dam construction project, tourism development in the Yaounde Municipal Lake, boost agricultural production, as well as aquaculture and maritime fishing development.

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