Kinshasa, October 17, 2024 – The government of the Democratic Republic of Congo has just unveiled the Amending Finance Law for the year 2024, with important implications for the country’s economy. This bill, presented by the Minister of State in charge of the Budget, aims to adjust the initial budget in line with new economic and financial realities.
According to information shared during the plenary in Kinshasa, the total amount of the Amending Finance Law amounts to 44,410 billion Congolese francs, which is equivalent to approximately 15.8 billion US dollars. This figure represents an increase of 8.4% compared to the initial budget, thus highlighting the evolution of the country’s financial needs.
The macroeconomic aspects of this bill are also essential to take into account. A GDP growth rate of 5.4%, a GDP deflator of 11.8 and inflation and exchange rate forecasts have been defined. These indicators are crucial for assessing the evolution of the Congolese economy and its short and medium term prospects.
The distribution of expenditures planned in this Amending Finance Law highlights the government’s priorities. Public investments, particularly in infrastructure projects such as road construction and the acquisition of a satellite, represent a significant share of expenditures. These initiatives aim to stimulate the country’s economic development and strengthen its position on the international scene.
At the same time, the challenges related to public debt and financial costs as well as operating expenses and transfers and subsidies are also taken into account in this Amending Budget. It is crucial for the government to find a balance between the expenditures needed to support economic growth and the responsible management of public finances.
In conclusion, the 2024 Amending Finance Law of the Democratic Republic of Congo reflects the challenges facing the country in terms of budget management. The decisions taken in this context will have a direct impact on the country’s economy and the well-being of its population. It is essential to closely monitor the evolution of these measures and understand the long-term implications for the sustainable development of the DRC.