Title: The Government of the DRC adopts an ambitious finance bill for 2024
Introduction :
During a Council of Ministers held on August 25, 2023, the Government of the Democratic Republic of Congo (DRC) adopted a finance bill estimated at nearly 17 billion US dollars for the 2024 financial year. This new law finance represents an increase of 24.7% over the previous year. The objective is to stimulate the country’s economic growth and meet the growing needs of the population. In this article, we will examine in detail the different components of this budget and the prospects it offers for the future of the DRC.
Revenue from the 2024 budget:
The finance bill for the 2024 financial year provides for total revenue of 40,464 billion Congolese Francs (CDF). The general budget represents the major part of these revenues, with 36,470 billion CDF, an increase of 20.4% compared to the previous year. Ancillary budgets contribute CDF 705 billion, while special accounts represent CDF 3,289 billion.
Internal revenue constitutes an important part of the budget, with 24,550 billion CDF, representing 67.3% of the general budget. External revenues amount to CDF 11,920 billion. Internal revenue includes customs and excise revenue, tax revenue, non-tax revenue and revenue from oil producers.
Impacts on the economy and the population:
This ambitious budget aims to stimulate economic growth in the DRC by investing in key sectors such as agriculture, industry, infrastructure and services. It will also make it possible to meet the needs of the population in terms of health, education, employment and social development.
Investments in agriculture will help improve the country’s food security and support local farmers. Congolese industry will benefit from measures to promote local production and strengthen competitiveness in international markets. The infrastructures, for their part, will be modernized to facilitate trade and stimulate the economic development of the various regions of the country.
In terms of social development, efforts will be made to improve access to health care, education and employment. Targeted programs will be put in place to reduce poverty and combat social inequalities.
Future prospects :
The draft finance law for 2024 demonstrates the Congolese Government’s desire to put in place the conditions conducive to sustainable economic growth and the improvement of the living conditions of the population. However, its effective implementation and proper management will be essential to achieve the objectives set..
It is also important to stress that this budget must be periodically reassessed and adjusted according to the evolution of the economic situation and the needs of the country. This flexibility will allow us to adapt to the challenges and opportunities that will arise in the years to come.
Conclusion :
The finance bill for the 2024 financial year adopted by the Government of the DRC offers promising prospects for the future of the country. By investing in key sectors and responding to the needs of the population, it aims to stimulate economic growth and improve the living conditions of the Congolese. However, its proper management and effective implementation will be crucial for its success. Let’s hope that this budget will allow the DRC to progress on the path of sustainable development and prosperity for all