The Growth and Employment Strategy Paper was the theme of the second presentation delivered yesterday at the Finance Ministry’s annual conference.The global objectives of the Growth and Employment Strategy, GESP,  put in place last year will consist of increasing growth to an average level of 5,5 per cent annually between 2010 and 2020; reducing under-employment from 75,8 per cent to 50 per cent in 2020; reducing poverty rate to 28 per cent by 2020 and achieving entirely the Millennium Development Goals.

This orientation was given by the Secretary General at the Ministry of the Economy, Planning and Regional Development, Paul Tasong, during his presentation at the annual conference of officials of central, decentralised and external services of the Ministry of Finance, MINFI, that started yesterday January 27 in Yaounde, under the theme: “2011 Budget and stakes of diversification of sources of financing the economy”.

The Secretary General revealed that the portion of public investment in State expenditure will be increased substantially from 21 per cent to 30 per cent by 2020. In priority, investment funds will be allocated to grand projects. The procedures for public contracts award and the nature of budget control will also be softened while public aid to development will be oriented towards the priority sectors of the GESP.

In his presentation, Paul Tasong also pointed out the GESP had three components: employment strategy, growth strategy and governance and strategic management. While the growth strategy will consist of developing infrastructure, modernising agricultural production, as well as the financing of the economy, the employment strategy will involve the increase of decent employment opportunities. On its part, the State’s governance and strategic management will involve the strengthening of the State of law and security of persons and property, the improvement of the business climate, the fight against corruption and embezzlement as well as the deepening of the decentralisation process.

Paul Tasong ended by underscoring the stakes for the Ministry of Finance in the financing of the economy through taxation, the banking system, microfinance, mobilisation of national savings and public debt management. Furthermore, emphasis will be laid on the improvement of the performance of the management of public finances to consolidate budget discipline, re-orient public resources towards the priorities of the GESP and to reinforce the efficiency of the role of the State and public services.

The officials of MINFI will be listening today to four other presentations intended to edify them on their roles in the national vision for development.