(Ecofin Agency) - One of the key resolutions adopted during the 33rd meeting of the ministerial council of the Central African Economic Union (UEAC) held on February 8, 2019, in Malabo, Equatorial Guinea, was the yearly budget of the institution.
At the end of the meeting, the budget was set at FCFA83,096,804,000. Following the adoption, compliments were addressed to the commission for the adoption of conservative assumptions for the assessment of the community integration tax (Taxe communautaire d'intégration-TCI), with a 60% discount (to face hazards that could disrupt the collection of such taxes, because of state retentions notably).
In its official release, the commission praised peace, collaboration, mutual understanding and fraternity that prevailed during the meeting.
Let’s note that the budget was adopted amid sub-regional security context marked by persisting tensions in some of the member states and an unstable macroeconomic environment due notably to the instability of oil prices.