Financial authorities in the Democratic Republic of Congo (DRC) continue to make progress in revenue collection. During the first thirteen days of October 2023, they managed to collect a total of 553.8 billion Congolese Francs (CDF), an achievement rate of 41% compared to monthly forecasts.
The General Directorate of Taxes (DGI) played a leading role in this mobilization of revenue, with an amount of 258.2 billion Congolese Francs (CDF) collected. The General Directorate of Customs and Excise (DGDA) and the General Directorate of Administrative Revenue (DGRAD) respectively collected 170.4 billion Congolese Francs (CDF) and 125.2 billion Congolese Francs (CDF).
These figures demonstrate the effectiveness of financial authorities in mobilizing public revenue, which contributes to strengthening state finances and supporting the country’s economic development.
However, when it comes to public spending, the execution rate still remains low, reaching only 38%. Expenditure was mainly devoted to salaries of state agents and civil servants, operating costs of institutions and ministries, capital expenditure and subsidies.
It is important to note that these figures relate only to the first thirteen days of October, and revenues and expenditures are expected to increase as the month progresses.
On a cumulative annual basis, the balance of State financial operations shows a deficit of 1,970 billion Congolese Francs (CDF) between revenues and expenditures. This underlines the importance for financial authorities to continue working on revenue mobilization and expenditure control in order to balance state finances.
In conclusion, the financial authorities of the DRC achieved a notable performance in collecting revenue during the first thirteen days of October. However, it is necessary to maintain this momentum and strengthen efforts to increase the expenditure execution rate and achieve a more stable financial balance.
Sources:
– Economic situation report from the Central Bank of Congo dated October 13, 2023