“The Economic and Financial Reforms Program of the CEMAC (PREF-CEMAC) steering committee during the 19th ordinary session sat to to discuss on the level of implementation of the 3rrd Pilar which is geared towards structural reforms”.
The implementation of the 3rd Pilar consists of the matrix of premodial reforms of the PREF-CEMAC towards the end of 2022 was characterized by a global realisation height of 54.7% on the entire three general objectives which defines the Pilar. These objectives are based on.
1) The reinforcement of the economic diversification and development of the private sector
2) The amelioration of the state of affairs (OG12)
3) The development of alternative forms of the economic financement (OG13)
During the first semester, the member states and the Institution’s communities had put in place actions on the structural reforms which consists amongst others on the economic diversification, human capital development, the amelioration of the state of affairs and the mobilisation of the financement of hybrids.
The follow up committee outlined that the CEMAC is exposed to several oxygen chocks of economic, financial, and environmental nature which are little diversified and greatly dependent on fuel. Whereas a diversified economy is less exposed to such chocks from the moment it is not perfectly coherent. In view of amending this weakness, the powers that be of the subregions decided within the context of the second phase of the PREF-CEMAC 2021-2025, to conceive and apply an integrated strategy of diversified economies in a framework of high inclusive and sustainable increase.
The committee recalled that in 2023, the priority was basically centered on every member state within it’s general objectives on;
1) The integration of the political diversification in the national program of development and in the 2023 exercise Finance law.
2) The publishing of global reports on the economic performance of state enterprises in strategic fields of the diversification plan within the context of the restructuring of public enterprises
3) The redefining of services for training and apprenticeship in order to adapt to the needs of diversification
4) The defining of an equitable and resilient education policy.
As regards the human capital, the committee revealed that, Cameroon is at the center of the National Strategy of Development of Cameroon 2020-2030 (SND30). The Central African Republic on the other hand can increase its drive in the implementation of the human project “Maingo”, a project of 26 billion, 824 million FCFA approved in June 2021 by the world Bank and place in vigor in May 2022. At the level of the Permanent Secretariat of the PREF-CEMAC, a workshop was organized on the 19th and 20th of June 2023 in Cameroon’s capital city Yaounde by the world Bank and the PREF-CEMAC on the theme “The reinforcement of human capital to free the economic growth potential in the CEMAC “. The workshop witnessed a success with the participation of all the focal points charged with the development of human capital of the six member states of the CEMAC together with the brilliant performances of the different experts in human development.
The 3rd Pilar equally examined key issues like the conception and application of an integrated strategy of the diversification of economies, amelioration of the state of affairs, the putting in place of all national measures, regional and international communities contributing to the improvement of the state of affairs and reinforcing it’s competitiveness, developing alternative forms of Economy Financement.
Juliette MESSAME
