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.
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
With Arise, Gagan Gupta has built a reputation in Africa for developing industrial platforms, notably in Benin and Togo. In recent years, the Indian...
HONOR plans to expand smartphone production at Egypt factory Plant targets three million units annually, 1,000 jobs Move aims to boost exports,...
Mobile phones have become essential tools for work, education, payments and staying connected across Africa. Their longevity is no longer just a matter of...
State share to rise to 40% under Mining Code Move aims to boost control, revenues from gold sector Burkina Faso will pay 70 billion CFA francs...
The Virunga Gorilla Marathon is a relatively recent initiative held in the Virunga region, a volcanic mountain range straddling the borders of the...
Lomé is hosting the 9th edition of the International Film Festival of Togo (FIFTO) featuring 33 films. The event promotes African storytelling in...