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DRC: Public finances, José Sele to consolidate achievements and initiate reforms

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DRC: Public finances, José Sele to consolidate achievements and initiate reforms

The new national treasurer, José Sele Yalaghuli is determined to consolidate the achievements of the action led by his predecessor, Henri Yav Mulang, and to initiate further reforms. Objective: to make public finance a real instrument for the development of the DR Congo. The handover of the torch took place this Saturday, September 7, 2019 during an official ceremony. All stakeholders in this sector took part.

« I hope to take this Ministry of Finance with great humility, determination and patriotism to put myself at the service of the Congolese population under the leadership of the President of the Republic. And to do this, I ask God to help me and bless the Congo, « said José Sele.

Acquis to consolidate

The new finance minister and his deputy find the state’s treasury globally under control. The transitional deficit, on the other hand, is relatively limited and covered by receipts collected during the months with tax deadlines.

« The rate of the Congolese franc against the US dollar at the end of August 2019 remained relatively stable compared to the end of December 2018. This is reflected in a cumulative annual depreciation rate of 1.1% and 0.2% respectively for interbank and parallel markets, « said the outgoing minister, Henri Yav.

DRC: Public finances, José Sele to consolidate achievements and initiate reforms

Moreover, the inflation rate has been steadily declining since the peak of 54.7% as of December 31, 2017 and stood at 7.2% at the end of December 2018, whereas this year’s projections place the annual rate at less than 5%, far from the goal of the beginning of this exercise. In parallel with this evolution, Henri Yav evoked the level of international reserves which continued to be close to one billion US dollars.

For his part, José Sele praised these achievements, recognizing the work done by his predecessor in an extremely difficult context characterized by essentially political (elections) and security-related domestic constraints, but also the exogenous constraints linked to the price shocks of the country’s export products. Congo Rd.

« Despite these difficulties, you have been able to maintain the fundamental balances of the macroeconomic framework that could help us to contribute a base line on which we must embark. You have kept the essentials under the constitutional prerogatives, which are vested in the Ministry of Finance, particularly a low level of indebtedness. You will be grateful for the story, « said the new Minister of Finance.

Four challenges to overcome

The outgoing Minister acknowledges that these results, positive as they may be, require consolidation by his predecessor. And this consolidation requires, first of all, the pursuit of efforts to increase domestic revenue mobilization with a view to generating the necessary resources for the financing of basic investments.

DRC: Public finances, José Sele to consolidate achievements and initiate reforms

Secondly, the maintenance of budgetary discipline at the level of public expenditure whose improvement of quality should be preserved.

There is also the need to take better advantage of the opportunities offered by bi-lateral and multi-lateral partners of the DR Congo in order to compensate for the insufficiency of domestic revenues collected to finance the needs of the State for sustained and inclusive growth.

And finally, the pursuit and completion of some reforms currently underway, including improvement of the yield of VAT, the computerized revenue chain, increased transparency and fiscal accountability.

Ilunkamba: « our goal, bringing economic growth to 10% on average »
If Henri Yav does not doubt for a moment that many other reforms will be undertaken by the Minister José Sele to increase the state’s fiscal margin, the new national treasurer already targets the legislative, structural and operational.

As a house son who has climbed the ladder for 17 years, José Sele Yalaghuli has mastered the realities of public finance in the Congo. His professional and political experience, his rigor, his loyalty and his patriotism attest to his ability to meet the challenges that lie ahead.

Eric TSHIKUMA

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Kinshasa: the Presidential Clinic with a new Pavilion

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Kinshasa: the Presidential Clinic with a new Pavilion

The Presidential Clinic of the Cité de l’Union africaine has a new Pavilion. This building, named after the First Lady of the Republic, Denise Nyakeru Tshisekedi, was inaugurated on Wednesday, September 11, 2019 in Kinshasa, capital of the Democratic Republic of Congo.

The Denise Nyakeru Tshisekedi Pavilion is equipped with the latest generation of state-of-the-art equipment capable of treating a maximum of 100 patients per day. It includes two hospital rooms, two consultation booths, a sampling room, a laboratory and a reception area equipped with 25 seats.

Kinshasa: the Presidential Clinic with a new Pavilion

Two highlights marked the inauguration ceremony presided over by the First Lady.

First of all, the occasional word from the medical director, Dr. Joseph Kangudia Mbaya, who paid tribute to the Head of State, Felix-Antoine Tshisekedi Tshilombo, for his clearly expressed commitment to the country’s overall development, particularly in the health and well-being sector.

This Brigade general indicated that the inauguration of the Denise Nyakeru Tshisekedi Pavilion is in line with the logic of continuing the materialization of an old project to provide the presidential clinic with the necessary and modern infrastructure for its proper functioning.

The symbolic ribbon was cut by the First Lady to the frenetic applause of the medical staff and patients present at the site.

Kinshasa: the Presidential Clinic with a new Pavilion

This ceremony ended with a visit to the various departments of the new pavilion. Denise Nyakeru Tshisekedi signed the guest book marking her visit to the African Union Presidential Clinic, the second since the inauguration of her husband, Head of State Felix Tshisekedi Tshilombo.

Nadine FULA

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DRC: ARCA reminds the respect of article 286 of the Insurance Code!

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DRC: ARCA reminds the respect of article 286 of the Insurance Code!

DOCUMENT] – The Insurance Regulatory and Control Authority (ARCA) in the Democratic Republic of Congo reminds us of the scrupulous respect of article 286 of Law No. 15/005 of 17 March 2015 on the Insurance Code. It published a circular note on 6 September 2019 for the attention of authorised insurance operators. Below, the content:

DRC: ARCA reminds the respect of article 286 of the Insurance Code!

DRC: ARCA reminds the respect of article 286 of the Insurance Code!

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DRC: Bussa notes the invalidity of the orders issued by the temporary worker in Foreign Trade

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DRC: Bussa notes the invalidity of the orders issued by the temporary worker in Foreign Trade

Foreign Trade Minister Jean-Lucien Bussa Tongba has just put an end to a series of flagrant irregularities in certain acts committed during the interim period. The latter violated the Prime Minister’s formal injunction given to the temporary workers on 22 March 2019 to refrain from making arrests pending the installation of the new Government.

Legalistic, the new Minister of Foreign Trade found in the remission files and repeated a series of ministerial orders issued during this period of current business being conducted by the acting minister.

Without, however, annulling them by a contrary act, Jean-Lucien Bussa merely declared them invalid. This means that they are considered null and void.

« Any economic operator concerned by these provisions is requested, as of today, to contact the services of the office of the Minister of Foreign Trade for a review of the files in accordance with the regulations in force« , according to an official press release dated 10 September 2019 received by Zoom Eco.

For Minister Jean – Lucien Bussa, it is a question of maintaining the momentum of the business climate through efficient regulation of imports and exports, in the best interests of the Republic.

It therefore invites the Secretary General for Foreign Trade, the General Directorate of Customs and Excise (DGDA), the Congolese Control Authority (OCC), the General Directorate of Migration (DGM) and the Directorate of the National Programme for Border Hygiene (PNHF), each in its own right, to comply with these provisions and to ensure their prompt implementation.

Emilie MBOYO

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