The Minister of Finance of the Democratic Republic of Congo, Nicolas Kazadi, presented the Bill on the rendering of accounts of the Finance Law for the financial year 2022. The budget of the central power, voted in balance at 22,253.01 billion Congolese francs, was executed to the tune of 26,160.70 billion Congolese francs in revenue, representing an achievement rate of 117.56%. Expenditures amounted to 28,641.15 billion Congolese francs, representing an execution rate of 128.71%.
However, the general budget shows a deficit of 3,481.73 billion Congolese francs as of December 31, 2022. The annexed budgets and special accounts, for their part, show respective surplus balances of 9.34 billion Congolese francs and 991. 94 billion Congolese francs. The cumulative deficit balance of the central government budget therefore amounts to 2,480.45 billion Congolese francs.
Nicolas Kazadi explains that the overruns of the appropriations observed are due to the limits of the ways and means budget which do not present sufficient forecasts in relation to the real needs. The power to amend regulations is framed by mechanisms for the movement of credits and specific procedures which are provided for in Law No. 11/011 of July 13, 2011.
The bill presented by Nicolas Kazadi will be sent to Parliament for ratification, which will validate the expenditure and revenue planned and authorized under Finance Law No. 21/029 of December 31, 2021 for the 2022 financial year.
This presentation by the Minister of Finance highlights the need for better budget planning to avoid deficits and overspending in the future