The expenditures of the government of the Democratic Republic of Congo have become a focal point at the beginning of 2024. The Ministry of Finance’s quarterly report reveals that in the first quarter, expenses amounted to 1,211.16 billion Congolese Francs. Although this reflects a slight decrease from the previous quarter, the percentage of expenditure executed under emergency procedures surged to 23.5%.
The upsurge can be attributed to delays in budget mechanization for 2024, coupled with substantial spending on security, public debt repayment, and self-financed investments. Remarkably, security expenses accounted for 57.1% of the total expenditure, underscoring the country’s security challenges.
The cash flow plan of the public sector indicates a rise in expenditure, notably in public debt amortization compared to the previous year. Security spending also witnessed a significant boost, soaring from 623.44 billion Congolese Francs to 1,296.86 billion Congolese Francs, marking a 108% year-on-year increase.
These figures are integral to an economic program supported by the International Monetary Fund, aiming to curtail the percentage of expenditure under emergency procedure to 8% for the 2024 fiscal year. This objective highlights the necessity of stringent and transparent financial management to safeguard the country’s economic stability.
In conclusion, these statistics shed light on the financial management difficulties encountered by the government of the Democratic Republic of Congo. A prudent and efficient strategy will be vital to ensure the country’s financial viability and propel its long-term economic advancement.
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