CPDM Crime Syndicate: Public debt estimated at CFA12.203 billion over first three months of 2023 0

The public debt of Cameroon was estimated at CFA12.203 billion over the first three months of 2023. Compared to the same period last year, the amount is up 5.2%, and now represents 43.7% of the country’s GDP, according to data published by the Autonomous Depreciation Fund (CAA).

This debt level remains bearable and in line with the government’s 2023-2025 strategy, which aims to keep it below 50% of GDP, the threshold for the CEMAC region being 70% of GDP. The large part of Cameroon’s outstanding public debt during the period under review was incurred by the central government. The outstanding direct debt of the central government grew by 5.6% YoY over the period to CFA11,314 billion, representing 40.5% of GDP.

“The direct debt of public enterprises and entities, at the end of March 2023, is estimated at CFA879 billion, or 3.1% of GDP. This amount is up 0.9% YoY, but down 1.1% MoM and 1.9% QoQ,” the CAA said.

At the same time, the outstanding debt of decentralized local authorities reached about CFA10.2 billion in Q1 2023. It was mainly driven by the Urban Community of Douala. “Work to evaluate this category of debt is ongoing, in collaboration with the Ministry of Finance and the Ministry of Decentralization and Local Development,” the Autonomous Depreciation Fund explained.

Source: Business in Cameroon