The Cameroonian finance ministry has just presented its budget statistics over the period of 2008 to 2018. Overall revenues improved during the reviewed period.
Non-oil revenues grew from XAF1,277 billion in 2008 to XAF2,703 billion in 2018, up 111.6%. Domestic tax revenues leapt 134.85% from XAF809 billion to XAF1,900 billion. Customs revenues improved 71.68% from XAF468 billion in 2008 to XAF803.5 billion in 2018 while tax pressure rate was 13% in 2008, increasing to 16% in 2018.
In spite of good performance, the Cameroonian finance Ministry says there is still room for improvement. “Taxation can contribute to growth, but is not the key growth driver. The size or level of tax levies does not automatically lead to sustained growth or emergence”, the Ministry states, recommending a fair, efficient and equitable tax system so that Cameroon gets back on the track of economic growth.
