Cameroon records a deficit in oil revenues

Cameroonian oil revenues have registered a deficit of 31.3%, which is 32.1 billion FCfa equivalent, at the end of March 2015.

This is because of the fall in the global price of crude over the level selected in the finance law, according to a report from the Ministry of Finance on Monday.

In the same vein, the main commodity, apart from cocoa and aluminum, recorded significant decline as compared to the first quarter of 2014. In General, the economic situation of Cameroon is characterized by a consolidation of growth with a rate, revised upward to 6.4% compared to 5.8% initially.

Internal budgetary revenue collected during the period registered an increase of 3.7% over the same period of the 2014 fiscal year, with non-oil revenues which increased by 9.7 percent while oil revenues recorded a drop of 31.3%, which is equivalent to 32.1 billion FCfa.

Total budgetary spending, for their part, experienced an increase of 27.4% YOY while borrowing and donations increased by 24.3%.

The total budgetary set at 920,6 billion FCFa in the first quarter of 2015, experienced an implementation rate of 82.7%, while current expenditure was executed at 86.6%, 71.8% investment costs and the service of public debt to 89.7%.