Highlights: Cameroon: the government justifies the increase in fuel prices. According to the government, these price readjustments had become inevitable and even beneficial for the country's economy. The significant abandonment of subsidies for petroleum products saves the State nearly 1,000 billion FCFA. 180 billion are therefore included in the state budget for the 2024 financial year, we learned. It remains to be seen how the social partners and Cameroonians as a whole will receive these explanations, says RFI's Polycarpe Essomba.

Cameroon: the government justifies the increase in fuel prices

During a press conference in the presence of six ministers, the government moved to the phase of explanations and justifications for the increase in the prices of petroleum products, which occurred five days ago. According to the government, these price readjustments had become inevitable and even beneficial for the country's economy.

A gasoline seller on the street in Tcholliré, Cameroon. Gamma-Rapho via Getty Images - Gerard SIOEN

By: RFI Follow

With our correspondent in Yaoundé,

Polycarpe Essomba

It was Louis Paul Motaze, the Minister of Finance of

Cameroon

who revealed it: the significant abandonment of

subsidies for petroleum products

saves the State nearly 1,000 billion FCFA. Enough to consider more calmly the financing of the projects and infrastructures that the country needs.

“

Everyone understands that with 1,000 billion, you end with the problem of the Douala-Yaoundé highway, you end with the Yaoundé bypass project, you end with the construction of a dam that we want to launch, the Kikot dam

,” said the minister.

However, indicated the Minister of Commerce, Luc Magloire Mbarga Atangana,

the policy of subsidies

has not been completely abandoned. 180 billion are therefore included in the state budget for the 2024 financial year, we learned.

The minister also expressed his annoyance about certain “

rumors

”. “

I would really like to put an end to a certain rumor that we tend to mischievously spread among public opinion by claiming that through this salutary measure for the national economy of readjusting fuel prices at the pump, it is an abandonment of populations by the State. This is completely false. I would like this to be clearly understood

,” he said.

Finally, the Minister of Transport, Jean-Ernest Masséna Bibehe, whose sector is most directly impacted by these price increases, suggested that negotiations are underway with unions and various social partners for a control transport prices. Negotiated increases should therefore take place in the near future.

It remains to be seen how the social partners and Cameroonians as a whole will receive these explanations.

Cameroon: the government justifies the increase in fuel prices

Cameroon: the government justifies the increase in fuel prices

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