[2007-06-26]  Cameroon Records CFA 220 Billion Surplus Trade Balance
The execution of the State budget during the first quarter of 2007 shows a reduction in revenue compared to the same period last year, a press statement of the National Monetary and Financial Committee has said. The communiqué published on 14 June by the committee's president, Minister of the Economy and Finance, Polycarpe Abah Abah, attributes the drop on the drop in oil revenue and increase in current expenditure. "Budgetary revenue for the first quarter stood at CFA 416,3 billion against 449,8 billion in 2006 during the same period", the communiqué states. This represents a percentage drop of 7.4 (-33, 5 billion).
In the same vein, budgetary expenditure stepped up by CFA 294 billion during the same period, indicating an increase rate of 9.6 %. Last year, budgetary expenditure stood at CFA 268, 2. Compared to this year, the increase stands at CFA 25, 8 billion in absolute value.
According to the communiqué, Cameroon recorded a trade balance of CFA 220 billion in 2006. The figures as published by the National Institute of Statistics, show exports at CFA 1,868,452 million as against 1,648,110 million for imports.

In the meantime, the National Monetary and Financial Committee says short term economic perspectives are favourable for the country. The last estimates done within the framework of the monetary programme revue put real growth rate at 4 % in 2007 instead of 4.1 % as initially earmarked compared to 3.5 % in 2006. Real revenue per inhabitant is expected to progress by 1.1 % in 2007 while inflation rate has dropped from 5.1 % in December, 2006 to 4.3 % in March, 2007.

The country's foreign net savings increased by 92.9 % between March 2006 and March 2007, from CFA 588,3 billion to 1,134,9 billion; an increase of +546,6 billion. Two factors contributed to this evolution: high crude oil prices in the international market and favourable impact of debt cancellation. Internal credit on its part registered a drop of 32,3 % from CFA 1,124,5 billion in March 2006 to CFA 761,2 billion in March, 2007 (-363,3 billion). This is highly related to the disengagement of the State vis à vis the banking system. The monetary mass progressed by 8.5 % to reach CFA 1,634 billion in March, 2007 against 1,506 billion one year earlier (+128 billion). This progress was accompanied by an increase in bank liquidity.




Source: ALL AFRICA