Finance Minister, Alamine Ousmane Mey, on Thursday May 15, 2014 chaired the 6th inter-ministerial steering committee session on how to better manage State funds. Target is to ensure that
public finances are managed more efficiently and transparently and that the results expected through government policy are felt at the level of the population.
Finance Minister, Alamine Ousmane Mey, says government is working resolutely to ensure that a battery of reforms put in place to ensure efficiency in public finance management yield desired fruits to lift the standards of living of the population. Addressing inter-ministerial steering committee members of public finance reforms in its 6th session in Yaounde yesterday May 15, the Minister said there is need for constant orientations on the management of public finances. Its participatory aspect, he noted, equally needs reinforcement for collective success.
Yesterday's session was essentially to evaluate the process of internalising the directives of CEMAC on public finance management, the putting in place of management controls, accounting reforms as well as to present an already drafted plan on modernising public finance management. "One of the most important decisions taken by the government is to engage our country in vast reforms on public finance management. The ultimate objective is to make sure that public policy really translates to change in the living conditions of the people. This is done through the budget, one of the major instruments of putting in place the government's policy," Minister Alamine Ousmane Mey said.
In 2007, Cameroon changed its financial constitution by obtaining a new law on the Fiscal Regime of the State which effectively went operational on January 1, 2013 and which has moved the budget from means-oriented to results-oriented. "It is a long process and a big challenge for all the administration," he said. The Minister noted that it was on the basis of surmounting such challenges that the Prime Minister, Head of Government, put in place the steering committee to monitor, follow up, evaluate and adjust what is happening on the field. The steering committee session, he added, is to look into some of the issues which are related to implementing the sub-regional directives related to public finance management, making sure that all the different management instances to follow up the programme budgeting are available and that the people dedicated to monitor are trained to ensure that what is decided in terms of budget is effectively implemented on the field. "It is a process that will lead to major training activities, appropriation of different stakeholders and follow up to make sure that the target is attained. We believe that step by step, we will ensure that public finances are managed more efficiently and transparently and that the results expected through government policy are felt at the level of the population," the MINFI boss said.