Cameroon’s parliament on Monday approved a budget of 6,345.1 billion xaf (about 10 billion U.S. dollars) for the 2023 financial year, representing an increase of 4.4 percent compared to the previous financial year.

Edgard Ndongo Eteme, General Rapporteur of the Committee on Finance and the Budget, while presenting the budget said the money will be used to implement the country’s development plan, support national security and health system and rehabilitate displaced citizens.

“The new budget also seeks to create jobs, boost exports and economic stabilization measures and mobilize revenue,” said Louis Paul Motaze, Minister of Finance who defended the budget on behalf of the government.

Cameroon projects an economic growth rate of 4.2 percent in 2023 compared to a forecasted growth of 3.7 percent in 2022, said Motaze.

Source:  Xinhua News Agency