**The Congolese Economy Under Pressure: Deficits and Prospects for Reforms**
The recent economic outlook note from the Central Bank of Congo (BCC), covering the period from December 27, 2024 to January 3, 2025, paints a worrying picture of the financial health of the Congolese state. With a provisional cash deficit of 1,088.6 billion CDF at the end of 2024, against a forecast deficit of 763.3 billion, the assessment raises crucial questions about the sustainability of public finances in the Democratic Republic of Congo (DRC).
### An Economy Neutral to Global Realities
The assessment of the financial performance of the State cannot be dissociated from global economic dynamics. In 2024, the global economy was marked by disruptions linked to the monetary policies of the major powers, geopolitical conflicts and the instability of raw materials markets. The DRC, rich in natural resources, must navigate this ocean of uncertainty.
BCC data also reveal that financial authorities have exceeded their public revenue targets, reaching CDF 1,961.6 billion, an impressive increase of 32.9% compared to forecasts. This success in mobilizing resources would be a good indicator of resilience, but it must be weighed against the considerable increase in public spending, which grew by 36.2% compared to monthly forecasts.
### Public Expenditure: Management for Present Subscribers
From the outset, the difference between budgetary intentions and actual results is striking. With total expenditure of CDF 3,050.6 billion against a projection of CDF 2,239.7 billion, the execution of the budget reveals a management of public finances that seems to suffer from a lack of rigor. Expenditures on salaries, operating institutions and subsidies weigh heavily on budgets, continuing to be part of a predatory logic rather than building an effective state.
It is essential to understand that this excess in spending only delays the inevitable need for structural reforms. Infrastructure investments, although critical for long-term economic development, do not translate into sufficient budgetary priorities. This situation is a chore for economic actors, both national and foreign, who aspire to a more stable and prosperous DRC.
### A Deficit that Questions the Viability of the State
At the macroeconomic level, the State’s Balance of Financial Operations shows a cumulative deficit of 1,941.1 billion CDF for the year 2024. Considering that expenditure reached 28,398.4 billion, against total revenues of 26,457.3 billion, the situation is critical. While the deficit may seem acceptable in a period of development, it calls for serious reflection on the growth and financing model of the State. How can the DRC ensure its financial sovereignty while investing in improving public services and infrastructure?
### Towards an Urgent Reform of Public Finances
Given such a picture, the recommendations of the BCC are clear: the need for strengthened budgetary discipline and increased revenue mobilization. But how can this be achieved? Initiatives to diversify sources of revenue, attract foreign investment, and improve tax transparency are more necessary than ever.
A comparative perspective with other sub-Saharan African countries could prove enlightening. For example, nations such as Rwanda have implemented effective revenue mobilization and expenditure management strategies, while maintaining sustained growth. The DRC could draw inspiration from such practices, in particular by forcing the regulatory framework and a determined fight against corruption.
### Conclusion: The Uncertain Future of a Nation Rich in Potential
While the Central Bank of Congo calls for increased efforts to stabilize public finances, the challenge remains immense. The current crisis can be seen either as an opportunity to initiate fundamental reforms or as a missed opportunity to perpetuate a cycle of debt and deficits.
Ultimately, it is the action of leaders and the participation of civil society that will decide the path the DRC takes. It is imperative that the lessons of the past guide future decisions, in order to avoid the pitfalls of adventurous management. The DRC is at a crossroads: a future based on rigor and anticipation or an endless cycle of budgetary crises. The choice is up to its leaders, but the consequences will affect every Congolese.