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Today, we highlight political news in the Democratic Republic of Congo, where senators are preparing to examine in second reading the finance bill for the 2024 financial year. This bill, which has already been adopted in the National Assembly, provides for a balanced budget in revenue and expenditure, amounting to approximately 32,456 billion Congolese francs, or approximately 16 billion US dollars.
The main macroeconomic forecasts on which this bill is based include GDP growth of 6.4%, an average inflation rate of 10.9% and an average exchange rate of 2,518.3 Congolese francs per US dollar. . Expenditure planned for the 2024 financial year takes into account the government’s priorities, particularly in the areas of the civil service, public health, national education, the judiciary, defense and security, as well as financing the electoral process.
Internal revenues represent a significant portion of the budget, at around 67%, and are made up of current revenues and exceptional revenues from treasury bonds. External revenues represent approximately 32.7% of the general budget.
This finance bill reflects the Congolese government’s efforts to implement a roadmap for a transition to a program budget by 2024, in accordance with the public finance law in force.
Once the bill has been voted on and adopted in identical terms by the Senate, it will be submitted to the President of the Republic for promulgation. In the event of discrepancies, a Joint Commission will be set up to resolve disagreements, with the National Assembly’s version prevailing in the event of no agreement.
This finance bill reflects the country’s challenges and priorities for the coming year and demonstrates the government’s commitment to promoting the economic and social development of the Democratic Republic of Congo.
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