(Business in Cameroon) – Cameroon’s Ministry of Finance has estimated a budget of CFA16.2 billion to implement its Strategic Plan for Public Finance Management Reforms (PSRGFP) over four years. According to official documents reviewed by Business in Cameroon, this new plan, approved in October 2023, will run from 2024 to 2027. It replaces the Comprehensive Public Finance Management Reform Plan, which was in effect from 2019 to 2023.
The PSRGFP is designed to establish efficient, responsible, and accountable financial governance across Cameroon. It will rely on an integrated and high-performing information system, the Ministry of Finance noted.
The CFA16.2 billion will be allocated to specific areas. CFA2.7 billion will go toward managing state budget risks. CFA2.4 billion is planned for improving public finance information systems. About CFA2.6 billion will be used for preparing the state budget, and CFA2.2 billion will finance monitoring and managing budget execution.
The plan will primarily be funded through the state budget, with specific allocations based on the annual work plans. The Ministry of Finance also aims to secure extra funding from partners, including grants, loans, budget support, and project funding.
Unlike the previous plan, which focused on five main areas, the new PSRGFP includes nine intervention areas. The new priorities are state budget risk management, public procurement management, climate resilience, gender-sensitive public finance, and optimization of information systems.
