The 2nd 2023 Parliamentary Session will focus on State budget revision
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Loading... - Agyei Gyan
- 06 Jun 2023
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The upcoming second session of the Cameroonian parliament in 2023 is scheduled to commence on June 8 at the National Assembly and Senate, as confirmed by official statements from both chambers. According to reliable sources, this 30-day session will primarily focus on the revised 2023 State Budget, which is currently undergoing finalization by the government.
The revised budget will incorporate the outcomes of the fourth review of the three-year economic and financial program (2022-2024) between Cameroon and the International Monetary Fund (IMF), in collaboration with the Bretton Woods institution. It is expected that the revised budget will be issued as a presidential decree by the end of this month or in early June. Subsequently, the decree will be presented to Members of Parliament (MPs) for ratification.
Despite the 5.2% salary increase implemented in the civil service in February 2023, two months after the initial budget was approved, the anticipated Budgetary Adjustment might lead to a reduction in the government's budget for the year. The reason behind this, as per our sources, is the decrease in subsidies for domestic gas consumption and petroleum products. In 2022, these subsidies amounted to CFA775 billion, based on data from the Ministry of Finance.
To address this expenditure reduction in 2023, the Cameroonian government has raised the prices of gasoline (by 15%), diesel fuel (by 25%), and industrial kerosene (by 36%) since February 1, 2023.
