58.2 million USD paid to oil companies in June 2022 as state subsidies- DRC
The Government of the Democratic Republic of Congo (DRC) paid 58.2 million US dollars as subsidies for petroleum products at the pump to petroleum companies established on the national territory.
This was indicated by the Congolese Minister of Finance, Nicolas Kazadi, quoted by Patrick Muyaya, Spokesman of the Government, on the occasion of the sixtieth meeting of the Council of Ministers.
“Petroleum product price subsidies at the pump were paid in the amount of USD 58.2 million in June 2022,” Congolese government spokesman Patrick Muyaya said.
According to the National Argentier, the public expenditure of the Congolese Government is estimated at a total amount of 2,057.1 billion Congolese Francs (CDF) at the end of June 2022 against 8,781.4 billion Congolese Francs (CDF) in total. annual.
The Government of the Democratic Republic of Congo (DRC) in fact subsidizes petroleum products to the tune of 2,561 Congolese Francs (1.2 USD) on the price per liter at the pump in order to preserve the purchasing power of the Congolese populations already very weak.
Since the beginning of the Russian-Ukrainian crisis, government credits allocated to petroleum product subsidies have skyrocketed and could reach between 400 and 500 million USD year-on-year, according to the Congolese Minister of Finance.
