The Congolese government plans to collect about CFA1,935 billion, or $3.4 billion in revenues next year. This is about 17.2% higher than the amount estimated in the 2021 rectifying finance law.
To achieve its objective, the government mainly bets on oil and tax revenues. Oil revenues are expected to jump by 16% from $1.8 billion this year and tax revenues are expected to jump by 15% from $1.2 billion. For expenditure, the government plans to invest more than CFA1,734 billion in 2022, up from the CFAF 1,522 billion this year. The money will serve for debt settlement, goods, and services, as well as salaries. More than CFA329 billion will go for various investments. The government will provide a little more than 48% of investment needs while the remaining will come from external resources.
According to the African Development Bank (ADB), Congo's economy has been in recession for at least two years. This is mainly due to the fall in oil prices on the international market. However, the pan-African banking institution foresees a recovery of the global economy, thanks to possible mitigation of the covid-19 pandemic. That could positively impact the Congolese economy.
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Safran invests €280m to build one of the world's largest landing gear plants in Morocco, crea...
This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...
South Africa will remove transmission control from Eskom and create a separate public grid operato...
DRC, UNOPS sign infrastructure cooperation memorandum in Kinshasa Agreement covers development, skills transfer, strategic coordination,...
MTC Namibia and Botswana Fibre Networks (BoFiNet) signed a memorandum of understanding to expand cross-border fibre connectivity. The partnership...
Egypt reached 9.1 GW of installed renewable capacity in fiscal Q2 2025/2026, up from 8.6 GW a year earlier. Solar and wind accounted for more than...
Supreme Court rules 6–3: IEEPA does not authorise the President to impose tariffs. Constitutional principle upheld: taxing power belongs exclusively to...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...
Senegal, Morocco resume talks on film co-production pact Countries seek revised agreement on training, distribution Partnership produced two...