In a forum, the analyst and financial economist calls on the state to start doing the economy itself again instead of doing economic austerity.
Analyst and economist Élisée Yonta says the state budget is not working because of two main reasons. "In Cameroon, the finance law is not considered at all as a document that details the state's strategy to boost the national economy. In Cameroon, the Finance Act is considered a document that sets the framework for the collection and accounting of State revenues, as well as the consumption or distribution of revenues. " he said in a forum.
According to him, Cameroon must return to fiscal orthodoxy by starting to do economy again instead of economic austerity. He also compares Cameroon's finance law to a "catalog of "La Redoute" where we come to look at the novelties which are in fact "the new taxes and duties created each year" as well as the new niches of "mangement" for civil servants".
For Élisée Yonta, the Cameroonian state must rely on monetary policy and fiscal policy to develop its economy. "Monetary policy is steered by the central bank, which modulates interest rates and injects liquidity into the economic circuit to boost investment via credit (…). Fiscal policy is steered by the government, which uses public spending to build infrastructure, develop industrial or agricultural production (…)to boost the local economy."
