APAnews | The World Bank (WB) in a report on the Cameroonian economy seen by APA on Monday has called on the country’s authorities to be “more rigorous in the management of financial resources”.
It said the WB “draws the government’s attention to the need to reduce the state’s spending”, in particular by reducing operating expenses and increasing public investment.
In Cameroon, more than 2000 billion CFA francs or 52 percent of the national budget was allocated to the functioning of the state in 2017.
This was cash used in “the organization of seminars, the payment of bonuses and gratuities, mission and representation expenses.”
According to the World Bank, these “sumptuous” expenditures are at the root of overcharging, corruption and other acts of bad governance that plague Cameroon’s public administration.
In addition, the report cited, as an example, that “35.5 billion CFA francs were spent on fuel and 42 billion CFA francs on bonuses and gratuities.”
The World Bank said Cameroonian leaders must, therefore, reduce the state’s costs and focus on productive investments, so as to avoid bankruptcy.