Congolese government spending fell significantly in the first quarter of 2023 compared to the last quarter of the previous year, according to a report by the Minister of Finance.
The report reveals that the Congolese Government’s total expenditure amounted to 4,095.18 billion Congolese Francs (CDF) in the first quarter of 2023, compared to 6,644.34 billion Congolese Francs (CDF) in the fourth quarter of 2022. This represents a decrease of 2,549.16 billion Congolese Francs.
The report also indicates that expenditure executed under emergency procedure decreased significantly, from 768.95 billion Congolese Francs (CDF) in the first quarter of 2022 to 483.5 billion Congolese Francs (CDF) in the first quarter of 2023. This represents a 59% drop in volume.
This reduction in public expenditure is partly explained by the Congolese Government’s efforts to limit expenditure executed under emergency procedures to 10% of total expenditure. A target set during the evaluation of the fourth review of the FEC program in June 2023.
The report specifies that the expenditures were distributed in a relatively balanced way during the first quarter of 2023, with 1,660.58 billion CDF in January, 1,053.55 billion CDF in February and 1,381.04 billion CDF in March. .
This downward trend in public spending underscores the efforts of the Congolese government for more rigorous management of public finances and more efficient use of resources. This can contribute to economic stabilization and the achievement of the country’s development goals.
It is essential to underline that this reduction in public spending does not necessarily mean a reduction in investments or public services. On the contrary, it may reflect a better allocation of resources and greater transparency in the management of public funds.
In conclusion, Congolese government spending fell significantly in the first quarter of 2023, reflecting efforts for more rigorous management of public finances