Title: Public Finances of the DRC in 2023: A Budget Surplus and a Positive Trend
Introduction :
In the Democratic Republic of the Congo, public finances are experiencing a positive development in 2023, with a surplus in the public treasury and revenue mobilization in line with budget allocations. In this article, we will examine in detail the latest information published by the General Inspectorate of Finance, reporting on state revenue and expenditure, as well as the measures taken to encourage the use of the Congolese franc.
A public Treasury surplus and mobilization in line with expectations:
According to the press release from the General Inspectorate of Finance, the public revenue mobilized amounts to 12,691,647,583,909.70 FC, or about 5.518 billion US dollars. These figures show a surplus of the Public Treasury of 378,288,835,307.27 FC, equivalent to 168.473 million USD. This surplus is the result of rigorous financial management and successful revenue mobilization within budget allocations.
Mobilization of own revenue is in line with expectations. The financial authorities have received instructions to amplify this positive trend and continue to strengthen the resources of the State. This increase in revenue will support development projects and meet the needs of the population in terms of infrastructure, education and health.
The Congolese franc on the rise on the foreign exchange market:
The pay of civil servants for the month of July 2023 experienced a delay of one week due to the updating and cleaning operations of the civil servants file. However, this will have no effect on the exchange rate, as government officials do not demand currency from the foreign exchange market. On the contrary, they are encouraged to keep their remuneration in Congolese francs, which has seen a gradual appreciation since the implementation of the framework measures taken during the extraordinary economic situation meeting last July.
This appreciation of the Congolese franc is the result of efforts to stabilize the foreign exchange market and protect the national currency. The extraordinary meeting on the economic situation, chaired by the Head of State, brought together the General Inspectorate of Finance, the Federation of Companies of Congo and the Congolese Association of Banks. These measures aim to strengthen the confidence of economic actors and citizens in the Congolese franc, thus promoting its progress on the foreign exchange market.
Conclusion :
The latest data published by the General Inspectorate of Finance shows a positive evolution of public finances in the Democratic Republic of Congo. With a public treasury surplus and revenue mobilization in line with expectations, the State has additional resources to support development and meet the needs of the population. Moreover, the gradual appreciation of the Congolese franc on the foreign exchange market strengthens confidence in the national currency. These elements are encouraging for the Congolese economy and open up new prospects for the future