The 2024 draft budget in the Democratic Republic of Congo
Currently, the Democratic Republic of Congo is preparing for the year 2024 with the examination and approval of the draft budget. National MPs recently declared the proposed $16.6 billion budget admissible, highlighting the budget’s estimated growth rate.
Prime Minister Sama Lukonde presented the finance bill during a general debate before deputies. He highlighted the importance of reorganizing the economy, with particular interest in diversification towards the agriculture, fishing and livestock sectors. It should be noted that 12% of the budget will be allocated to agriculture, which constitutes a record for the country.
The draft finance law for 2024 also foresees challenges such as the organization of the next elections, which will be financed by the government itself, as well as the gradual implementation of a local development program in 154 territories. The budget presented is in balance, with revenues and expenditures estimated at 40,464 billion Congolese francs, an increase of 24.7% compared to the previous year.
However, despite the approval of the draft budget, some MPs expressed concern over the allocation of resources. They pointed out that the budget allocated more resources to the functioning of institutions rather than to basic social sectors, such as road infrastructure, education and health.
It is undeniable that developing a balanced budget and managing resources efficiently are challenges that many countries face. It is essential to strike a balance between the operational needs of institutions and investments in key sectors that will drive the country’s development.
In conclusion, the Democratic Republic of Congo is actively preparing for the year 2024 with the approval of the draft budget. MPs welcomed the estimated growth rate of this project, while emphasizing the need for adequate allocation of resources for essential social sectors. The challenge lies in finding a balance between operational needs and priority investments for the development of the nation.