The general budget of the Democratic Republic of Congo for the 2022 financial year was recently the subject of an accounting, revealing an execution rate of 128%, or more than 28,641.0 billion Congolese Francs (CDF ), or more than 14 billion US dollars. However, despite this budget overrun, the overall balance remains in deficit of 3,481 billion Congolese Francs (CDF).
According to the Minister of Finance, Nicolas Kazadi, central government budget expenditure reached 22,253.0 billion Congolese Francs (CDF) during the 2022 financial year. The annexed budgets and special accounts, for their part, show respective surplus balances of 9 billion Congolese Francs (CDF) and 281 billion Congolese Francs (CDF).
Public revenue mobilization was also assessed. Revenue from the 2022 general budget reached 23,863.20 billion Congolese Francs (CDF), an achievement rate of 116.93%. This represents an excess of more than 3 billion Congolese Francs (CDF) compared to budget forecasts. However, these revenues could not compensate for growing expenses which exceeded forecasts, resulting in a budget overrun of 28%.
The accountability bill for the 2022 financial year was declared admissible and sent to the Economic, Financial and Budgetary Control Committee for in-depth examination.
It should be noted that some ministries and institutions contributed more to the budget overrun. For example, the Presidency recorded an execution rate of 190%, while the Ministry of Foreign Affairs reached 401%. These overruns underline the importance for the government to rationalize spending and improve the management of financial resources.
This budget overrun raises questions about the country’s financial management and highlights the need to strengthen transparency and accountability in the use of public funds. It is essential that the authorities take measures to reduce deficits and ensure that financial resources are used effectively and efficiently for the benefit of the Congolese population.
It is to be hoped that lessons will be learned from this accountability and that measures will be taken to avoid future budget overruns. Rigorous financial management and increased transparency are essential to ensure the sustainable development and economic stability of the Democratic Republic of Congo.
Sources:
– Article: [Budget overrun in the DRC: a financial crisis endangers the future of the country](https://fatshimetrie.org/blog/2023/09/30/depassement-budgetaire-en-rdc-une-crise- financial-endangers-the-future-of-the-country/)
– Article: [Democratic Republic of Congo: the growth in the participation of people with disabilities to build an inclusive country](https://fatshimetrie.org/blog/2023/09/30/republique-democratique-du-congo-lessor-de-la-participation-des-persons-in-situation-de-disabilities-pour-constructre-un-pays-inclusive/)
– Article: [Discover the investment opportunities in DR Congo: a promising economic future to explore](https://fatshimetrie.org/blog/2023/09/30/decouvrez-les-opportunites-dinvestment-en-rd- congo-a-promising-economic-future-to-explore/)