DRC Faces Budget Deficit of $164 Million Amid Rising Public Expenditures
The Democratic Republic of Congo (DRC) reported a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC).
Public revenues totaled 22,548.8 billion CDF for the year, while expenditures reached 23,124.7 billion CDF, highlighting a financial imbalance that raises concerns about the sustainability of public finances and the government’s capacity to fulfill its obligations.
Economic analysts attribute this deficit to surging expenditures, particularly on civil servant salaries and exceptional outlays. A significant portion of the budget is allocated to salaries, far exceeding guidelines set by the Budget Ministry, straining available resources.
Persistent deficits are not new for the DRC. In recent years, the country has faced recurrent shortfalls, often aggravated by inefficient and opaque financial management. Poor spending practices further exacerbate the issue, underscoring the urgent need for comprehensive budgetary reform.
Projections for the near future remain bleak, with economists warning that the deficit could worsen unless decisive corrective actions are taken. Recommendations include stricter financial controls and economic diversification to reduce reliance on volatile commodity markets.
Reforming public finance management and addressing systemic inefficiencies are seen as critical steps to restore fiscal stability and support the country’s broader economic goals.
