DR Congo: Government Sets 2024 Draft Budget At $16.6 Billion.

By Badylon Kawanda Bakiman

The government of the Democratic Republic of Congo (DRC) in Central Africa has just set the draft 2024 budget at 16.6 billion US dollars. This figure was adopted, after debate and consideration, at the Council of Ministers meeting held on Friday August 25 in the capital Kinshasa.

The Minister of State in charge of the budget, Aimé Boji, explained that this draft budget represents a 24.7% increase on the 2023 budget, which was set at 15 and a half billion dollars.  The new budget covers the general budget, ancillary budgets and special accounts. The Minister of State in charge of the budget, Aimé Boji, explained that this draft budget represents a 24.7% increase on the 2023 budget, which was set at 15 and a half billion dollars.  The new budget covers the general budget, ancillary budgets and special accounts.

According to him, the 2024 Finance Act contains a 55.6% increase in credits allocated to investments, and a 49.6% improvement on the 2023 general budget, which stood at 35.8%.

In addition, he says, this new finance law reinforces the share of credits allocated to the defense and security sectors, and the inclusion of a special appropriation account called "Fonds de soutien et de développement des FARDC" (FARDC support and development fund).

The draft 2024 budget also takes into account the social demands of the union benches, notably the gradual implementation of universal health coverage. Not to mention the continuation of the electoral process and the creation of a fund to compensate sexual victims, as well as the continuation of the policy to implement free primary education.

"Despite the recent turbulence on the goods and services and foreign exchange markets, this Finance Bill has been drawn up on the assumption of sustained growth of 6.4% and inflation averaging 10.9% per annum, following the measures taken by the Government to stabilize the macroeconomic framework," he explained.

This draft budget will therefore be debated by Parliament during the September session, which is essentially budgetary in nature.