Without delay, the Congolese National Assembly on Thursday, December 3, adopted the Finance Bill 2021, which allocates a budget slightly higher than the revised budget for 2020, a year marked by explosive budget overruns in political institutions. . A budget, really, less applauded, but realistic according to the authorities.
as reported from Kinshasa, Pascal Mulegwa
$ 6.9 billion is less than 20% more than the $ 5.7 billion in the amending budget voted for 2020. budget proposal for 2021the overcrowded institutions will continue to consume most of the revenue, a little more than half. As a result, the credit rating for investments is very thin again this year. Civil society and some partners had appealed for a reduction in the state’s standard of living.
Of the 350 deputies present at this plenary session, only one opposed this project, which has not seen any major change after 15 days in the committee responsible for economic and financial affairs.
Follow IMF requirements
A large part of the income is allocated to remuneration to government employees. While last year the budget of more than $ 11 billion was considered unrealistic, this time Prime Minister Sylvestre Ilunga assures that it has received approval from the Bretton Woods institutions. The International Monetary Fund (IMF) did not speak but he had made this criterion one of the conditions for the country to be able to start negotiations, adopt a three-year plan and hope for credit facilities.
To improve revenues, the government plans to step up the fight against corruption and embezzlement of public funds. Despite the demands of the state unions, there is no question of reducing the tax burden. Export revenues still depend on the mining sector and the government expects economic activity to resume and the price increase for certain raw materials such as copper.