The State budget at the service of “Made in Cameroon”

For having made economic patriotism his battleground, the Minister of Finance, Mr Louis Paul MOTAZE received the government approval granted to him by the Prime Minister to finally put into practice a reinforced budgetary policy at the service of the promotion of “Made in Cameroon”.  

The time has therefore come for the State budget to once again truly become an instrument for development and growth. The Minister of Finance, Mr Louis Paul MOTAZE has also received the approval of the Prime Minister, Head of Government, Chief Dr Joseph DION NGUTE, during the Cabinet Council of 2 July 2020, to materialize his ideas on a policy of budgetary support necessary for the effective implementation of the promotion of’ “Made in Cameroon“‘. The Head of Government instructed the MINFI to submit to him within two weeks detailed concrete measures relating thereto, likely to be incorporated into the 2021 Finance Law. He went further, by prescribing in particular, that the approach thus recommended by Louis Paul MOTAZE favours partnership engineering, by identifying those enterprises whose capital could be opened to the private sector, with a view to relieving the public treasury and increasing their performance.

A real battle horse for the Executive, the Minister of Finance therefore has the opportunity to move the lines. It is in this dynamic that he has always urged his collaborators to put in place mechanisms capable of promoting a paradigm shift in the elaboration of the Finance Law. The final objective being, the orientation of budgetary flows towards the promotion of production, to the detriment of consumption, so dear to the Head of State H.E. Paul BIYA, against the backdrop of the balancing of our country’s balance of payment, which is suffering the harmful effects of massive imports of certain agro-food products such as rice, fish, milk, wheat and others.

It is in this vein that all hopes are now turned towards the 2021 Finance Law, especially for local entrepreneurs who dream of genuine economic patriotism. Thus, by taking advantage of a real import-substitution policy of budgetary resources as mentioned in the Economic and Budgetary Programming Document (EBPD), it is obvious that some of the endogenous solutions used to fight against the coronavirus, may see even the beginning of industrialization.