The President of the Republic His Excellency Paul BIYA signed a circular on 30 July 2013 to spell out points that have to be taken into consideration in the preparation of the 2014 budget, calling for strong growth, competitiveness and the pursuit of the programme orientated budgeting that was initiated in 2013.
The circular notes that the budget will be prepared within the context of timid recovery of the international economy that is being driven by the emerging economies. The growth rate for Cameroon in 2013 is expected to be at 5%, fuelled mainly by the coming online of new energy production units and the increased production of hydrocarbons. The growth rate for the CEMAC sub-region is expected to be at 6%, while it is expected to be even higher for the region of Africa South of the Sahara, at 6.1%.
The main objective of the 2014 budget will be to accelerate the growth rate and to increase the competitiveness of the economy. The directives also call for the diversification of commercial partners and the improvement of the business climate in Cameroon.
The circular calls on vote holders to preparing the budget to lay emphasis on production sectors of the economy, especially second generation agriculture, the construction of roads and telecommunications infrastructure. Agriculture projects are expected to be pursued or get started, as well as the energy and mining sectors.
In the social sectors, greater efforts will be undertaken to increase water supply to the population, increase electrification and the building of social housing, the consolidation of education and health facilities, while paying attention to gender issues and persons living with physical or mental handicaps.
The circular also calls for the continued improvement in the management of public funds, with a view to increasing transparency and accountability in the management of public matters.