Mining Revenues For 2023 Projected To Surpass 10 Trillion Dollars In DRC
The 2023 fiscal year’s Finance Law anticipates mining revenues to reach 10,887.9 billion Congolese Francs (CDF), equivalent to over 5.4 billion US dollars.
Document 4 of the Finance Law for the 2023 financial year relating to revenue-generating acts indicates that these revenues have increased by 146.3% compared to their level in the 2022 financial year, which amounted to 4,419.9 billion Congolese Francs (CDF).
The same document indicates that in the first half of the 2022 financial year, the financial authorities mobilized more than 5,376.4 billion Congolese Francs (CDF) from mining revenues, exceeding the budget forecast of 2,209.9 billion Congolese Francs (CDF), representing an achievement rate of around 243.3%.
According to the data, the revenues increased sharply in 2022 due to the rise in the price of mining products exported from the Democratic Republic of Congo to the international market.
For the mobilization of these revenues in the 2023 financial year, the central government assigns the General Directorate of Taxes (DGI) the responsibility of generating revenues of 8,235.2 billion Congolese Francs (CDF).
According to the Finance Law for the 2023 financial year, the General Directorate of Customs and Excise (DGDA) is expected to mobilize revenues of around CDF 1,008.8 billion during this financial year.
The same document indicates that the General Directorate of Administrative, Judicial, State and Participations Revenue (DGRAD) is expected to mobilize 1,643.7 billion Congolese Francs (CDF) throughout the 2023 financial year.
