Cameroon's government has proposed a 16 percent increase in its 2013 budget, betting that crude oil production will shoot to an average of 79,000 barrels per day next year from just over 60,000 bpd now, according to a copy of the proposed budget seen by Reuters on Monday.

The central African state proposed a budget of 3,236 billion CFA francs ($6.39 billion), up by 436 billion from the 2012 budget, as it boosts spending on infrastructure projects.

It also proposed raising some 250 billion CFA from treasury bond issuance in 2013, down from the 285 billion CFA that had been planned for 2012.

Source: Reuters