The government's text, which is to be examined by Parliament, sets the target for public revenue at 2,778 billion CFA francs, marking an increase of 8.9% compared to initial forecasts. The new macroeconomic projections integrate a re-indexed national wealth expansion rate of 5.5%, driven by the combined dynamism of the extractive and non-petroleum sectors.

The adjustment of public accounts is mainly based on the recovery of petroleum taxation. Hydrocarbon revenue projections rise from 965.9 billion to 1,119.1 billion CFA francs, representing a 15.9% increase that offsets the 19.1% contraction recorded in the first quarter. The non-petroleum fiscal framework remains unchanged at 1,255 billion CFA francs, complemented by non-fiscal revenue of 260.2 billion and revalued international partner contributions of 80.4 billion CFA francs. The capital influx allows for the absorption of the 7.7% increase in state expenditures, which are now set at 2,551.1 billion CFA francs.

The upward drift of public expenditures is primarily due to the increase in transfer envelopes, which amount to 756 billion CFA francs, representing a sectoral increase of 20.6%. External debt service obligations also increase by 23.4% to reach 238.1 billion CFA francs, while the public investment budget remains capped at 563.7 billion CFA francs. On the treasury segment, the government anticipates increased financing needs with regulatory charges set at 1,812.3 billion CFA francs, compared to resources of 1,595.3 billion. The projected negative balance of 216.9 billion CFA francs will be fully covered by the surplus from basic operations.

The multi-year forecasts indicate positive budget balances until 2029, by which time fiscal revenues are expected to grow at an average annual rate of 7.4%, bringing the state's overall revenue to nearly 3,200 billion CFA francs. The national strategy aims to stabilize inflation at 2.7% in the short term, while targeting average growth of 6.5% over the next three years. Achieving budget viability, projected at 5.1% of GDP within three years, remains conditional on rigorous rationalization of administrative expenditure and expansion of the tax base beyond hydrocarbons.


Bernardo

Tags: congo budget rectificatif economie finances publiques fcfa recettes publiques taux d'expansion secteur extractif fiscalite petroliere investissement public