DRC: the government plans to raise CDF 2,252.7 billion by November 2024

The Government of the Democratic Republic of Congo (DRC) expects to mobilize public revenues of 2,525.7 billion Congolese francs (CDF), equivalent to $790.9 million by November 2024.

This estimate is based on payments of the fourth instalment of income and profit tax.

However, public spending is estimated at 2,830.8 billion Congolese francs (CDF), raising questions about the State’s financial viability.

Finance Minister Doudou Fwamba recently stressed the importance of rigorous public finance management.

The Congolese State recorded a positive balance in September 2024, a first that testifies to a significant improvement in tax revenue collection compared with previous years.

This trend is encouraging for economic managers.

The upward revision of the 2024 Budget, which now stands at 49,847 billion Congolese Francs (around 17.79 billion USD), was motivated by necessary adjustments in the face of current economic challenges.

The country’s government has allocated a significant share to road infrastructure and other key priorities for national development.

The Congolese authorities are striving to improve fiscal discipline in order to stabilize the economy and support public services.

The macroeconomic framework has been affected by the depreciation of the Congolese franc and inflation estimated at 17.5% (high). These factors make public finance management even more crucial.

International financial support is also expected, including $1 billion in budget support from the World Bank to strengthen the State’s financial capacities.

This support is vital to cope with budget deficits and urgent spending in sectors such as security and education.

The fight against corruption remains a priority for the government. Measures have been put in place to strengthen transparency and eliminate fraudulent practices in the management of public funds. This could help restore the confidence of citizens and investors alike.

Minister Fwamba also mentioned that the Government is working closely with the financial authorities to maximize public revenues. This strategy aims to ensure that the State can finance its projects without resorting to excessive indebtedness.

Mitterrand MASAMUNA