Strategy to boost tax revenues adopted

With regard to the continuous decline in global prices for a barrel of crude oil, the Cameroonian State Treasury might not be able to achieve its goal of 775 billion Cfa francs cash in 2015, as oil revenues.

The hypothesis was seriously considered at the Government Council's office held January 29, 2015, in Yaoundé.

Invited to elaborate on "the measures taken to optimize the performance of the budget of the State for the year 2015, in its revenue and expenditure components", the Minister of finance, Alamine Ousmane Mey announced that a strategy to optimize the collection of tax and customs revenue will be implementation, in order to compensate the decline in expected oil revenues.

What portends a greater pressure on local traders, due to low price from the gloomy international situation around oil prices.

Indeed, for several weeks now, the price of a barrel on the international market shows less than 50 dollars. Yet, according to Lazare Bela, former Director of economic and current Affairs Adviser at the Ministry of finance, price forecasts of crude oil under the budget of the State of Cameroon for the year 2015, were made on the basis of 89 dollars per barrel, representing more than 49 dollars more compared to the current price of a barrel internationally.