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Domestic revenues grew by 5.6% in Q1 2020 thanks to the oil sector

Domestic revenues grew by 5.6% in Q1 2020 thanks to the oil sector

Paru le lundi, 06 juillet 2020 13:45

Cameroon’s domestic revenues in the first quarter this year rose by 5.6% YoY to CFA820.4 billion, the finance department reports.

According to the ministry, the good performance over the period was mainly spurred by the increased oil revenues, which amounted to CFA117 billion at the end of March 2020 making an achievement rate of 137% compared to the forecast of CFA85.4 billion. However, oil revenues in the first quarter of 2020 were 3.3% below the level in Q1 2019.

As for non-oil revenues, they posted a 90.7% achievement rate reaching CFA703.4 billion in Q1 2020 over a forecast of CFA775.7 billion. This under-achievement is due to the decline in customs revenue (out of a quarterly target of CFA202.4 billion, the amount achieved by the end of March 2020 was CFA140.6 billion, a 69.5% achievement rate) and non-tax revenue (out of a forecast of CFA53 billion, they amounted to CFA28 billion).

S.A.

Dernière modification le lundi, 06 juillet 2020 13:56

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