DRC foreign currency budget: A surplus balance of 13 million US dollars in October 2023
In its economic situation note, the Central Bank of Congo (BCC) revealed that the budget balance in foreign currencies of the DRC shows a surplus of around 13 million US dollars as of October 5, 2023. This positive result results from revenues amounting to $43.5 million and expenses reaching $30.5 million.
This performance reflects a clear improvement compared to the first quarter of the year, when the foreign currency budget recorded a deficit of $194.3 million. During this period, revenues amounted to $528.99 million, including $453.67 million from foreign exchange operations, while expenditures reached $723.29 million, of which $537.27 million were allocated to Treasury needs. .
Compared to the same period in 2022, when the foreign currency budget showed a surplus of $116.1 million, these results demonstrate better management of public finances in the DRC.
It should be noted that the execution of the 2022 foreign currency Budget resulted in a surplus of 1.617 billion US dollars at the end of December, thus exceeding the initial forecasts which anticipated a surplus balance of 1.364 billion dollars. .
These figures reveal good financial health for the DRC and show the efforts undertaken to control expenses and increase revenues. This is all the more important in an economic context where financial stability is essential to support the country’s development.
The DRC has abundant natural resources and high economic potential. Better control of public finances and rigorous management of the foreign currency budget will ensure economic stability and promote long-term growth.
However, it is essential to remain vigilant and continue efforts in terms of transparency and good financial governance. This will strengthen investor confidence and sustain economic growth in the DRC.
In conclusion, the positive results of the DRC’s foreign currency budget for the month of October 2023 show a significant improvement compared to the start of the year. This is an encouraging sign for the country’s economy, but it is essential to continue efforts to ensure responsible and sustainable financial management.