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World Bank summons Cameroon authorities to be more rigorous in financial resources


Devdiscourse News Desk yaoundé Cameroon
Updated: 11-12-2018 11:25 IST
World Bank summons Cameroon authorities to be more rigorous in financial resources

Over 2000 billion CFA francs or 52 percent of the national budget was allocated to the functioning of the state in 2017 in overall Cameroon (Image Credit: Wikipedia)

The World Bank has called on the Cameroonian authorities to be "more rigorous in the management of financial resources."

It said the World Bank "draws the government's attention to the need to reduce the state's spending", in particular by shortening operating expenses and augmenting public investment.

Over 2000 billion CFA francs or 52 percent of the national budget was allocated to the functioning of the state in 2017 in overall Cameroon.

This was cash used in "the organization of seminars, the payment of bonuses and gratuities, mission and representation expenses."

According to the World Bank, these "sumptuous" expenditures are at the root of overcharging, corruption and other acts of bad governance that plague Cameroon's public administration.

In addition, the report cited, as an example, that "35.5 billion CFA francs were spent on fuel and 42 billion CFA francs on bonuses and gratuities."

The World Bank said Cameroonian leaders must, therefore, reduce the state's costs and focus on productive investments, so as to avoid bankruptcy.

With inputs from agency.

COUNTRY : Cameroon

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