The Cameroonian executive has just signed an order of the President of the Republic on June 2, 2022, to endorse the surplus to maintain the prices of fuel at the pump, domestic gas and paraffin unchanged.
The Cameroonian executive, through an ordinance of the Head of State, will endorse the surplus to keep the prices of fuel at the pump, domestic gas and paraffin unchanged.
The objective of the approach is to support the purchasing power of Cameroonians. The official figures speak of 600 billion CFA francs per year for this support, i.e. 50 billion CFA francs per month.
In the initial 2022 finance law, support for fuel prices at the pump was budgeted at about 120 billion to be drawn from the subsidies and contributions line. But in the rectifying finance law, this chapter of the budget is increased by CFAF 360 billion to CFAF 625.4 billion.
At the sub-regional level, the ‘general rise in energy and non-energy product prices’, due to the Russian-Ukrainian conflict, has led to an overall increase of 12.2% in the world prices of commodities exported by the six CEMAC countries (Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea) during the first three months of the year 2022.
