Finance

DRC pooled $3.2 billion in tax revenues over the past three quarters

DRC pooled $3.2 billion in tax revenues over the past three quarters
Tuesday, 31 October 2023 17:35

Despite the ongoing conflict in its eastern region, the Democratic Republic of Congo pursues its tax mobilization plan to support the State budget. Between January and September 2023, the government achieved more than 74% of its initial fiscal targets.

The Democratic Republic of Congo (DRC) has mobilized 8,039 billion Congolese francs ($3.2 billion) in tax revenues over the first nine months of fiscal year 2023. The figure comes from a report released by the Direction Générale des Impôts (DGI).

The amount corresponds to 74% of the country’s initial target for the period concerned–10,843 billion Congolese francs ($4.1 billion).

In its report, the DGI revealed that the Direction des Grandes Entreprises (DGE) mobilized nearly 71% of its target, while the urban and provincial directorates (DPI/DUI-K) posted an execution rate of 95.33%.

The Congolese government expects to collect 12,833.9 billion Congolese Francs in taxes this year, in line with the 2023 Finance Act. The forecast integrates significant earnings from mining.

A detail worth noting is that conflict in the eastern part of the country has surged back. However, the DRC economy remains resilient, with a satisfactory outlook.

According to the International Monetary Fund (IMF), the budget deficit should fall to 0.5% of GDP this year. In addition, the Fund believes that "stricter controls on spending under emergency procedures and better cash management will improve budget execution and free up room for much-needed social and development spending".

The government, for its part, forecasts an increase in tax burden rate, from 10.5% in 2021 to 14.8% in 2022; This is against an average of 17.6% for the sub-Saharan Africa region.

Charlène N’dimon (intern)

On the same topic
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including reproduction, possession and circulation of fake...
Africa Logistics Properties lists East Africa's first industrial REIT on the NSE, raising $29.55M, with total listing value of $39.95M. The...
African Solidarity Fund signs $26 million counterguarantee with Cape Verde’s Pro Garante Facility backs bank loans to businesses, especially...
Senegal raises 50 billion CFA francs through 364-day treasury bills Three- and five-year bond tranches receive no investor bids Repayment...
Most Read
01

Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...

Ethiopia’s State-Owned Telco Teams Up With Ericsson to Expand and Upgrade Its Network
02

The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...

BCEAO Cuts Key Rate to 3.00% as WAEMU Faces Deflation
03

EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...

EIB Commits €1 Billion to Renewable Energy Under Africa’s “Mission 300” Initiative
04

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
05

MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...

Satellite direct-to-device telecoms: promise, momentum and hard limits
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.