The government adopts the finance bill for the 2024 financial year: Towards an increase in the budget envelope
The government recently adopted the finance bill for the 2024 financial year. Presented by the Minister of State, Minister of the Budget, Aimé Boji Sangara, during the last meeting of the Council of Ministers, this draft budget amounts to 40.464 billion FC, an increase of 24.7% compared to the previous year.
In his speech, the minister stressed that despite the recent disruptions in the market for goods and services as well as the foreign exchange market, this finance bill was drawn up with the objective of sustained growth of 6.4 % and controlled inflation of 10.9% on average annually, thanks to the measures taken by the government to stabilize the macroeconomic framework.
Increased revenue mobilization constitutes one of the main directions of the tax policy recommended for the 2024 financial year. This aims in particular to broaden the tax base, tax the informal sector, promote tax compliance and fight against corruption and tax fraud. The tax and customs reforms initiated in recent years will also be continued in order to relieve the tax pressure.
Regarding expenses, they are estimated at 40,464 billion FC, in balance with the corresponding revenues. Investments will benefit from an increase of 55.6%, which will lead to a significant improvement in their share in the general budget, going from 35.8% in 2023 to 49.6% in 2024. Particular attention will be paid to the sector defense and security, with the creation of a special allocation account dedicated to the support and development of the FARDC.
Several other measures were announced, such as the continuation of the electoral process, the creation of the National Fund for Reparation of Victims of Sexual Violence, the gradual increase in social demands, the continuity of the policy of free primary education, the establishment of universal health coverage and diversification of the national economy.
The adoption of this finance bill comes a few weeks before the opening of the September parliamentary session. According to constitutional provisions, the finance bill must be submitted no later than September 15. The National Assembly then has 40 days to adopt it, otherwise it will be sent to the Senate for adoption within 20 days.
In conclusion, the finance bill for the 2024 financial year marks a significant increase in the budget envelope. Tax measures and planned spending reflect the government’s economic and social development priorities. The coming year will therefore be marked by sustained efforts in key sectors such as investment, security, education and health, in order to stimulate growth and improve the well-being of the Congolese population