Africa News Cameroon : 343.6 million FCFA of Oil revenue to...

Cameroon : 343.6 million FCFA of Oil revenue to end September 2018

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According to the note of the execution of the budget of the government of cameroon, oil revenues amounted to 343.6 million FCFA at the end of September 2018.

These oil revenues, according to this note on the execution of the budget, an increase of 59.1 billion (+20.8 per cent) compared to the end of September 2017, mainly because of the growth of 41.2% of the world oil prices year-on-year. In fact, the average price of oil
stood at 73.4 dollars per barrel, an increase of 41.2% compared to the same period of 2017.

The money from the sale of oil contain 283,7 billion FCFA of royalties for oil taken from the national hydrocarbons Company (SNH) and 59,9 billion FCFA of taxes on the oil companies. Compared to 324,7 billion FCFA forecast for the first nine months, they have experienced a achievement rate of 105,8%.
Revenue non-oil, they are 2 047,9 billion FCFA at the end of September 2018, compared to 1 887 billion at the end of September 2017, an increase 160.9 billion (+8.5 percent) between the two periods.

Compared to the 2 150 billion forecast, they are removing 102,1 billion FCFA, representing a completion rate of 95.2%. This under-performance is the result of the under-achievement recorded in the level of tax revenues.

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