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Finance: USD 8.8 billion from financial agencies mobilized as of December 23, 2022

Kinshasa, January 11th, 2023 (CPA) – Nearly 8.8 billion USD have been mobilized by the financial authorities of the Democratic Republic of Congo (DRC) e, close to December 23rd, 2022, revealed the latest summary of statistical information from the Central Bank of Congo (BCC) reached the CPA on Tuesday.

Forecasts of public revenue from the financial authorities were set at CDF 14,790.9 billion, or more than USD 7 billion, an excess of USD 1.8 billion.

“The financial authorities, namely the General Directorate of Taxes (DGI), the General Directorate of Customs and Excise (DGDA) and the General Directorate of Administrative, Judicial, State and Shareholding Revenue (DGRAD) mobilized USD 8.8 billion in December 23rd, 2022. The DGI mobilized CDF 11,256.6 billion, or approximately more than 5.5 billion USD, the DGDA, for its part, realized more than CDF 3,787.4 billion, or approximately USD 1, 893.4 billion or a total of. USD 8.8 billion in tax and non-tax revenue for the current fiscal year”, we noted on the summary of statistical data from the Central Bank of Congo.

The Directorate General of Taxes, underlined the source, comes in first position with approximately CDF 11,256.6 billion, or approximately more than USD 5.5 billion, closely followed by the DGDA with more than CDF 3,787.4 billion, i.e. approximately USD 1,893.4 billion and the lantern, the General Directorate of Administrative, Judicial, State and Participation Revenue (DGRAD) collected during this year more than CDF 2,696.0 billion, approximately USD 1.345 billion.

.USD 304 million in assignments from the DGI and the DGRAD to oil companies in 2023

Moreover ; the Directorate General of Taxation (DGI) and the Directorate General of Administrative, State and Shareholding Revenue (DGRAD) have been assigned to raise revenue from oil producers in the order of CDF 615 billion 414 million 780 846 (USD 304 million at average budget rate of CDF 2021 the US dollar in 2023

This sum represents an increase of 55.8% compared to their level for the 2022 financial year, located at CDF 394.9 billion according to the Document relating to the acts generating revenue from the 2023 Finance Law.

These revenues are projected on the basis of the declarations of operations and take into account a daily production of 20,983 barrels for the two groups (on-shore and off-shore).

For the DGI, its assignments to oil producers are valued at CDF 197 billion 310 million 786 994 (USD 97.6 million), or 32% of the total to be mobilized. As for the DGRAD, it will have to mobilize CDF 418 billion 103 million 993 852 (USD 206.8 million).

It should be noted that in 2022, the financial assignments set to these two financial authorities with oil producers were of the order of 394 billion 955 million 119 801 CDF. And therefore, for the 2023 budget, there is a 55.82% growth rate in revenue to be mobilized in this sector.

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