Wednesday, 10 January 2018

As 2018 state budget goes operational:



Gov’t prioritize settlement of debts owed SMEs
The 2018 state budget has gone operational with officials of the ministry of finance promising brighter days for SMEs through the settlement of debts owed them. The debt owed SMEs (Commercial debt) stands at 122bn CFA) while the total internal debt stands at 1600bn FCFA (28% of total public debt).
                With the 2018 state budget now operational, the major challenge for public finance stakeholders is to manage the country’s economy to ensure that growth indicators are kept in check in 2018. Officials say though the budget took many factors into account, debt servicing remains the priority.
                “As of today we have paid suppliers up to the 30th of September 2017. We still owe them for the months of October, November and December. We will program and even accelerate the payments to these small and medium size enterprises,” the director general of treasury and monetary cooperation, Moh Sylvester, assured, revealing that for the first time the government has put aside about 200 billion fcfa for payment of outstanding debts owed business operators in the previous year.

                Other priority areas of the budget include financing preparations for the 2018 elections, respecting the economic program with IMF and financing the execution of PIB projects across the country. Officials say with assistance from development partners they will meet the challenge.
                “With financial assistance we received from development partners, instructions have been given by the minister of finance to ensure that funds are made available to finance all these aspects of the budget. So, we have asked SME’s to keep their files up-to-date for payments to be effected,” assured the DG of the National Autonomous Sinking Fund, Richard Evina.    An envelope of 4513 billion fcfa is the budget package of the state for 2018. It is expected that this package will enable different players to contribute their quota to the country’s economic growth.


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