The Government of the Democratic Republic of Congo (DRC) recently unveiled a draft amending finance law for the 2024 financial year, marking a significant step in the country’s budget management. This announcement, made at the end of an extraordinary meeting of the Council of Ministers chaired by President Félix Tshisekedi, highlights the adjustments needed to ensure effective management of the State’s financial resources.
The complex economic and political context of the DRC has forced the government to review its initial budget in order to take into account new challenges and pressures from various internal and external factors. The recent renegotiations of the Sino-Congolese contract, successfully led by President Tshisekedi, have made it possible to release additional resources that will be allocated to essential investment projects, particularly in the area of infrastructure.
Furthermore, the announcement of financial support from the World Bank and the French Development Agency demonstrates the Congolese government’s desire to work towards better management of its public finances. This support, conditioned by the implementation of structural reforms, represents a major opportunity to strengthen the country’s economy and improve the living conditions of the population.
This budgetary adjustment, which comes before the opening of the September parliamentary session, underlines the importance given by the authorities to transparency and accountability in the management of public resources. By increasing the revenue and expenditure of the central government, the government intends to meet the priority needs of the population and promote development throughout the national territory.
The draft amending finance law for 2024 is part of a broader approach aimed at defining a multi-year trajectory for public finances, thus reflecting a medium-term vision for the economic and social consolidation of the country. The revisions of mining contracts with Sicomines are also an essential lever to ensure fair exploitation of natural resources and strengthen the financing capacity of development projects.
In short, this draft amending finance law demonstrates the Congolese government’s desire to promote responsible and transparent budget management, in the service of the well-being of citizens and the sustainable development of the country. It marks an important step in building a stronger and more inclusive economy, capable of responding to current challenges and paving the way for a better future for all Congolese.