Published on : 6/05/22 11:38 AM
In an ordinance signed on 7 June 2021, the President of the Republic, Paul Biya increases the State budget for the year 2021 by CFAF 615.2 billion or 12.64%. This ordinance amends and supplements certain provisions of Law No. 2020/018 of 17 December 2020 to lay down the finance law of the Republic of Cameroon for the year 2021.
In this new ordinance, 11 provisions have been amended and supplemented while two new sections have been inserted. It appears from this act of the President of the Republic that the budget for the year 2021 in Cameroon is revised upwards by 615.2 billion CFA francs. In fact, in section 40 of the initial finance law, the State budget for the year 2021 was balanced in resources and uses at CFAF 4865.2 billion, of which CFAF 4670 billion for the general budget and CFAF 195.2 billion for the appropriation accounts. With the ordinance of 7 June, this budget increases to CFAF 5 480.4 billion (CFAF 5 235.2 billion for the general budget and CFAF 245.2 billion for the special accounts).
With regard to the special appropriation accounts, Chapter 4 on the appropriation of revenue in its new section 31 revalorizes this envelope. It is thus indicated that
“the ceiling of resources intended to supply the National Solidarity Fund for the fight against the Coronavirus and its economic and social impact is set at CFAF two hundred billion 200,000,000,000) for the year 2021”.
Ordinance 7 June 2021
In the initial finance law, the ceiling of resources intended to supply this fund during this financial year was CFAF 180 billion. The overall revenue thus increases from CFAF 3456.6 billion in the initial budget to 3530.8 billion in the amended law, an increase of 74.2 billion.
With regard to stamp duty rates, the stamp duty on national passports (issuance, renewal and extension) is set at CFAF 110 000 as from 1 July 2021. This stamp duty was set at CFAF 75,000 in the initial finance law.
This new ordinance comes after the one of 26 May last, which allows the State to raise funds on the international financial market.