The Minister of Finance and Budget, Calixte Nganongo, presented on Saturday 27 and Monday 29 October 2018, at the National Assembly and the Senate, the financial bill 2019. It is set at 2,323 billion 448 million F CFA in revenue, and 1,753 billion 608 millions de F CFA in expenditures. And results in a budget surplus of 569 billion 840 millions F CFA. 

This draft financial bill focuses mainly on four fundamental lines: strengthening measures to improve and secure public resources; controlling public expenditures for greater efficiency; public debt sustainability through a strategy that is based on appropriate financing options; implementation of certain projects  provided for in the National Development Plan (PND).

This financial bill proposed by the Government, also includes cash and financing resources of 110 billion F CFA for costs of 1,133 billion F CFA, resulting in a deficit financing balance of 1,023 billion F CFA;

Major budget volumes

a - Budget revenues 

The draft budget provides for revenues to the amount of 2,323 billion 448 millions F CFA for the financial year 2019, an increase of CFAF 720 billion 829 millions F CFA compared to the financial year 2018.

The contribution by budget component is as follows: the overall budget amounts to 2,240 billion 825 millions F CFA, corresponding to 96 percent ; ancillary budgets come to a level of 16 billion F CFA, or 0,69 percent; and, finally, the special accounts of the Treasury account for 66 billion 607 millions F CFA, or 2,87 percent.

By revenue order, the annual forecast is as follows:

Tax revenue, consisting of internal taxes and duties, as well as indirect duties and customs duties, are estimated at 837 billion F CFA, down from 754 billion 600 millions F CFA, an increase of 82 billion 400 millions F CFA.  

• Internal taxes amount to 707 billion 100 millions F CFA, against 633 billion F CFA in 2018, an increase of 73 billion 900 millions F CFA.
• Customs duties and taxes, set at 130 billion F CFA, against 121 billion 500 millions F CFA, in 2018, depend on the evolution of imports and the application of measures envisaged in the year, particularly those relating to administrative capacity building. 
• Donations, bequests and competition funds are planned for 45 billion 650 millions F CFA, an increase of 16 billion 450 millions F CFA compared to 2018.
• The social security contributions are planned for 54 millions 897 millions F CFA, almost at the level of 2018 (54 billion 119 millions F CFA).
• Other revenue amount overall to 1385 billion 901 millions F CFA, against 764 billion 700 millions in 2018, an increase of 621 billion 201 millions F CFA. They include: Forestry taxes estimated at 7 millions F CFA; -oil revenue estimated at 1354 billion 239 millions F CFA, an increase of 605 billion 39 millions F CFA, compared with the 2018 forecast; - the mining revenue planned at 1 billion 500 millions F CFA, of which 1 billion represents the proportional mining royalty and 500 millions of surface royalty over all mining exports; - the State portfolio revenues are estimated at 8 billion F CFA, including 3 billion F CFA in dividends and 5 billion FCFA in investment interests; - administrative fees and spendings are estimated à 15 billion 62 millions compared to the 2018 forecast  

b - Budgetary spendings

Set to the amount of 1,738 billion 958 millions F CFA, budgetary spendings increase by 355 billion 339 millions compared to the 2018 forecast.

Spendings by budget component are as follows: 

• The overall budget represents 2,240 billion 825 miilions F CFA, or 96 percent; ancillary budgets, 16 billion 16 millions F CFA, corresponding to 0,69 percent; special accounts of the Treasury at 66 billion 607 millions F CFA, that is 2,87 percent. 

By spending order, budget volumes are as follows:

• The financial costs of the debt, estimated at 121 billion F CFA up from 146 billion F CFA in 2018, are down by 25 billion F; staff costs rose from 364 billion 500 millions F, in 2018, to 374 billion F, an increase of 9 billion 500 millions F; goods and services, forecast for 187 billion 200 millions F, against 172 billion 300 millions F, in 2018, an increase of 14 billion 900 millions F; transfers planned for 597 billion 435 millions F, are up 274 billion 606 millions F, compared to 2018; investments planned for 354 billion 350 millions in 2018, increased by 100 billion 35 millions.

Other spendings (formerly known as common costs), set at 37 billion F, compared to 34 billion F, in 2018, are in positive variation of 3 billion; ancillary budget spendings, planned for 16 billion 16 millions F, against 11 billion 761 millions, increased by 4 milliards 255 millions F, compared to their 2018 level; spendings of the special accounts of the Treasury, estimated at 66 billion 607 millions F, are down by 1 billion 622 millions F compared with their 2018 level. 

c - The overall budget balance

As budget revenues are greater than budget spendings, a budgetary surplus estimated at 569 billion 840 millions F emerges. 

Under the conditions of equilibrium that it determines, the 2019 finance bill also has cash and financing goals related to the sustainability of the public debt and to monetary stability.

d - The Treasury and the Funding

The finance bill includes, in cash and financing, resources of 110 billion F, and charges of 1,133 billion F, generating a balance of deficit financing of 1,023 billion F.

Cash resources, amounting to 110 billion F, consist mainly of drawings related to the implementation of partnership project, which amount to 107 billioin F, compared to 104 billion F in 2018.

Cash costs include:

• The redemption of external debt for a total of 555 billion F, against 603 billion 900 millions F, in 2018, down by 48 billion 900 millions F;
• The repayment of bonds for 49 billion F CFA; 
• The redemption of the debt for 297 billion, against 128 billion 500 millions F in 2018;
• The provision for savings, set at 232 billion F, for the improvement of Government's net position with regard to the banking system. 
• This results in a cash and financing need of 1,023 billion F which will be partially mitigated by the budget surplus. (…)

The press Office of the Ministry of Finance