Following the dissolution of the CACH-FCC coalition in December 2020, President Félix Tshisekedi spearheaded an ambitious public finance reform program in the Democratic Republic of Congo. This initiative led to a historic mobilization of public resources, resulting in a significant increase in domestic revenues and a marked improvement in financial sector growth. The reform efforts led to enhanced economic growth and increased competitiveness for the country.
The departure from the FCC marked a pivotal moment for the financial administration in the Congo. From 2021 to 2023, domestic revenues tripled, reaching 19,818 billion Congolese francs, effectively putting an end to the long-standing embezzlement of public funds that occurred under the previous coalition. This increase in revenues facilitated crucial new public investments that were previously unattainable due to political and economic challenges.
The restructuring of finances extended to external resources, which tripled between 2021 and 2023, amounting to $8.9 billion. This contrasted starkly with the modest $3 billion collected during the CACH-FCC governance, revealing the inefficiency of the previous government’s financial management.
Under the leadership of Finance Minister Nicolas Kazadi, the government strategically allocated the enhanced resources to key sectors prioritized by President Tshisekedi. Significant investments were made in education, including funding for free primary education, provision of school textbooks, and improvements in teacher welfare. The health sector also experienced notable advancements, with the initiation of a Universal Health Coverage program, financial support for prenatal care for hundreds of thousands of women, and the treatment of malnourished children.
Moreover, substantial progress was made in infrastructure development, such as the rehabilitation of airports and construction of new health centers. Efforts were directed towards modernizing the energy sector, with investments aimed at enhancing the capacity of the Inga hydroelectric plant and expanding electricity services to millions of new subscribers.
President Félix Tshisekedi’s financial development agenda translated into tangible outcomes and concrete progress, reflecting a shift towards more efficient and transparent economic governance. The mobilized resources were strategically allocated to stimulate economic growth and enhance the quality of life for the Congolese population.
In conclusion, under President Félix Tshisekedi’s administration, the Democratic Republic of Congo implemented bold and innovative reforms in public finance, setting the stage for sustainable development and increased prosperity for its citizens.
For more in-depth analysis on this topic, please refer to the following articles:
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