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.
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
Ethiopia will use digital platforms to register voters and candidates for the 2026 elections NEBE has deployed online tools, mobile apps, call centers,...
In Ghana, approval of the mining permit for the Ewoyaa lithium project is facing another delay. On December 11, Atlantic Lithium announced that Parliament...
Uganda launches a World Bank–funded $200 million program to reform public investment $40 million will support project preparation and $160...
Burkina Faso and Morocco signed 12 legal instruments during the fifth session of their Joint Cooperation Commission. The agreements span key...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...