Alamine Ousmane Mey, Minister of Finance, presented the draft regulation bill accounting for 2014 fiscal year to the Committee of Finance and Budget of the National Assembly, yesterday.

The said bill traced the budgetary implementation of the second consecutive year and the executed state budget. The presentation of the budget is the foremost duty of MINFI to render an account to the government in parliament.

He explained that the 2014 Finance law opened the commitment authorizations with the amount of FCFA 3 452 billion and payment appropriations for FCFA 3312 billion F.

Regulation Bill of 2014 budget was implemented in an economic environment characterized by global growth lower than expected and lower commodity prices.

Security challenges also posed a threat to the government. However, the sharp increase in public investment in infrastructure increased agricultural production and the development of services in the field of trade, telecommunications, transport and finance have boosted the growth of African countries in general.

Regarding the Cameroonian economy, it has shown resilience in a regional environment which has been characterized by security and humanitarian crises in the North borders with Nigeria and East with CAR. Growth reached a rate of 5.9% in 2014, supported by domestic demand. External demand has weighed in against the system.

In 2014, the trade balance was in a deficit of FCFA 1 187 300 000 000 and deteriorated by FCFA 132.9 billion as compared to 2013.

Between revenues and expenses, a surplus budget balance estimated at FCFA 107 400 000 000 was recorded, Alamine Ousmane Mey explained in his report.