In Malabo, the Council of Ministers of UEAC adopts a budget of 83 billion FCFA

(Ecofin Agency) - One of the big resolutions adopted at the 33rd meeting of the Council of Ministers of the Central African Economic Union (UEAC) held in Malabo, Equatorial Guinea, remains the annual budget of the institution.

Thus, at the end of the 8 exchanges last February, the Council of Ministers set the budget of the community in revenue and expenditure to the sum of 83 096 804 000 FCFA. Following this adoption, congratulations were sent to the Commission for adopting prudent assumptions for the evaluation of the Community Integration Tax (CIT), with a discount of about 60%. That, in order to be able to face the hazards likely to disturb the forecasts of recovery of said resource, in particular because of its retention by the States.

In its official statement, the council welcomed the climate of serenity and open collaboration, mutual understanding and fraternity in which the work took place.

It should be noted that the adoption of this budget took place in a sub-regional security context marked by the persistence of sources of tension in certain Member States and, secondly, an unstable macroeconomic situation, mainly because of instability of oil prices.

Stéphane Billé

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