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Thursday, June 28, 2018

Cameroons Government releases the total sum of $ 10 billion to clear SME debt

CIN| The Finance Minister, Louis Paul Motaze, has just authorized the support of services provided by small and medium-sized enterprises (SMEs) and fallen in the clos, therefore, engaged but not scheduled by the State.

This decision, according to the explanations of Cameroon tribune of Thursday, June 28, 2018, implies the postponement of appropriations of payment of the arrears of expenses carried out during the fiscal years 2013 to 2017. For this purpose, one learns, it was unblocked an envelope CFAF 10 billion, which according to the decision will be included in the budget for the 2018 financial year, Chapter 95 on "carry forward".

In a statement issued Wednesday, the Minister of Finance explains that the operation falls within the framework of the clearance of the debt of the State, instructed by the President of the Republic. The document also indicates that this approach led to the completion, from March to April 2018, of an inventory of services provided by SMEs that were not taken into account in the budget of previous years, ie from 2013 to 2017.

Thus, in order to satisfy the largest number of providers, the Minister Louis Paul Motaze has revised upwards the envelope allocated to this heading, from more than two billion F to 10 billion FCFA.

According to Cyrille Edou Alo'o, Director General of the Budget at MINFI, this is clearly to discourage "incidents", a budget practice that tends to take root in the administrations: " We advocate annuality. Expenses must be closed during the budget year, that is, planned, executed, paid during the budget year , "he said.

From now on, the SMEs concerned must contact the financial services of the project owners concerned to submit supporting documents for their claims to the Directorate-General for Budget, Budget Preparation Division. The file consists of the contract, the signed and registered order letter, the start-up work order, the accounts of the works carried out, the co-signed certificate of non-authorization by the head of the accounting post and the competent financial controller. and up-to-date tax records, all in original versions.

After the filing phase, MINFI will launch commitments to pay companies.