Category: Economy

At the heart of the economic challenges of the Democratic Republic of Congo (DRC) is the deficit of public revenues. With a projected deficit of 71.6 billion Congolese Francs (CDF) for July 2023, the government is facing increasing difficulties in maintaining financial equilibrium. Among the main causes of this deficit are tax deadlines and the economic slowdown. To stimulate economic growth in the DRC, measures such as improving revenue collection, economic diversification and investment promotion are needed. By acting proactively, the government can create an environment conducive to the country’s economic development and prosperity.

In the Democratic Republic of Congo, weekly inflation is gradually slowing down according to the Central Bank of Congo. During the third week of July 2023, weekly inflation stood at 0.184%, down from the previous week. This slowdown can be attributed to slower growth in the prices of goods and services on the market, particularly in the food, housing and miscellaneous services sectors. This price stability is partly due to a favorable exchange rate situation. Despite these encouraging figures, it is important to remain vigilant and put in place appropriate economic policies to maintain this trend and promote long-term economic stability.

The National Office of Fisheries and Aquaculture in the Democratic Republic of Congo (DRC) faces new challenges. Following their appointment by President Félix-Antoine Tshisekedi Tshilombo, the new leaders of ONPA met to discuss the missions and expectations that weigh on them. The ONPA aims to increase fisheries and aquaculture production in the country by providing inputs, organizing the collection and distribution of products, and participating in scientific research in the sector. To achieve these objectives, ONPA will face challenges such as improving infrastructure, combating illegal fishing and training fishermen. The new management team must work in the general interest of the Congolese by implementing concrete actions to modernize the sector and ensure the country’s food self-sufficiency.

The President of the Democratic Republic of Congo, Félix Tshisekedi, expresses his desire to regulate the unstable exchange rate in the country. To solve this problem, he mobilizes the General Inspectorate of Finance in collaboration with the government and the Central Bank of Congo. Among the measures envisaged is the repatriation of 40% of mineral sales made by mining operators. The stability of the exchange rate is essential for the economic development of the country and the preservation of the purchasing power of the Congolese. Collaboration and the implementation of concrete measures are therefore necessary to achieve this objective.

The Congolese government is taking bold steps to dedollarize the economy and preserve citizens’ purchasing power. During a meeting with the banks, decisions were taken, such as the prohibition of cash payments at the Central Bank of Congo and reinforced measures for the repatriation of currencies. The banks are committed to collaborating to make the Congolese currency more attractive on the market and to facilitate transactions in Congolese francs. De-dollarization has several advantages, including exchange rate stability and reduced dependence on the US dollar. This initiative opens new perspectives for the economic development of Congo.

The Democratic Republic of Congo is embarking on a new era for the automotive sector with the manufacture of “made in Congo” vehicles. The Congolese government has adopted a vision to renew vehicle fleets in all transport sectors in the country. The aim is to limit car imports and promote the domestic car industry. Kin Motors and Suprême Automobile/Mercedes-Benz are already engaged in vehicle assembly in the DRC. This initiative will modernize the vehicle fleet, revitalize the country’s economy and create jobs. Vehicles “made in Congo” will be affordable, with a price below 10,000 US dollars. This is an important step towards autonomy and the growth of the Congolese automotive industry.

In its latest economic bulletin, the Government of the Democratic Republic of Congo (DRC) forecasts a budget deficit of 71.6 billion Congolese Francs for the month of July 2023. This imbalance between revenue and expenditure raises concerns about the government’s ability to raise sufficient revenue and balance the state budget. It is crucial to take measures to increase tax revenue, reduce unnecessary expenditure and ensure sound and balanced financial management.

In this article, we examine the recent decline in inflation in the Democratic Republic of Congo and its impact on the country’s economy. According to the Central Bank of Congo, weekly inflation slowed in the third week of July 2023. This decline is mainly attributed to the deceleration in spending related to food products, housing and miscellaneous goods and services. In addition, the stability of the foreign exchange market helped to contain the increase in prices. This reduction in inflation provides economic respite by reducing pressure on consumer purchasing power, business production costs and the country’s financial stability. However, it is important to remain vigilant and keep a close eye on factors that may influence inflation going forward.

The Directorate General of Taxes (DGI) of the Democratic Republic of Congo (DRC) reminds taxpayers of the imminent expiry of the second installment of the Tax on Professional Profits (IBP). This payment, which must be made no later than July 31, 2023, is essential to comply with tax obligations and contribute to the economic development of the country. The DGI provides various means of payment to facilitate this process. The respect of these tax obligations is crucial for the economic development of the DRC, making it possible to finance the public services and the investments necessary for the well-being of the Congolese population. By paying the IBP, taxpayers demonstrate their commitment to the development of the country and help build a strong and prosperous economy.