The DR Congo had a deficit of 122.2 billion CDF (about 62.2 million USD) as of June 30, 2020, according to a conjuncture note published by the Central Bank of Congo (BCC). The country collected CDF 451.4 billion in revenue, compared to expenditure of CDF 573.6 billion as of that date.
“This deficit was entirely financed by resources from Treasury bill issues as well as that drawn from the budget support of the IMF (International Monetary Fund). It should be noted that in the second quarter of 2020, the Treasury used a quota of IMF budget support amounting to CDF 211.9 billion to cope with the low revenue observed in a context of economic crisis. induced by the global health crisis linked to the Covid-19 pandemic, ”explains the Central Bank.
According to the institution, the revenues mobilized between January and June 2020 represented only 82.3% of their monthly programming, driven mainly by the revenues collected by the General Directorate of Taxes (DGI), followed by those of the General Directorate Customs and Excise (DGDA) and the General Directorate of Administrative Revenue (DGRAD (Non-fiscal revenue), which represented 41%, 31.1% and 27.2% respectively of the total monthly resources mobilized.
“The low revenue observed since the start of the year is due to the fall in economic activity, accentuated by the harmful effects of the health crisis linked to Covid-19, making it difficult to mobilize domestic resources, while spending has been maintained to deal with this crisis ”, we read in the conjuncture note.
For their part, expenses were executed at 84.4% compared to monthly forecasts. According to the BCC, more than 50% of these expenditures related to the remuneration of state agents and civil servants, followed by those related to subsidies including retrocessions to financial authorities and economic interventions.
