DRC: Budget up 21% for 2024, with a focus on agriculture
The Democratic Republic of Congo’s (DRC) 2024 fiscal plan, originally set at 49,847 billion Congolese francs (around $16 billion), is set to experience a notable increase. The updated draft budget proposes a 21% rise, boosting the total amount to nearly $20 billion.
A key aspect of this new budget is the heightened focus on agriculture, a sector that has historically been overlooked in national funding strategies.
Agriculture holds significant potential for the DRC’s economy, offering an opportunity to diversify income streams and reduce dependency on extractive industries.
The government’s approach aims to bolster local production and strengthen food security, a critical challenge in a country with vast arable land.
This shift in budget priorities signals the government’s intent to revitalize an agricultural sector that has struggled for decades.
By investing more in rural infrastructure, farmer education, and financial access for agricultural entrepreneurs, the DRC seeks to reinvigorate production and enhance the nation’s competitiveness in regional markets.
With an expanded budget and a focus on efficient public fund management, the DRC could finally initiate the long-awaited economic transformation.
This strategy is designed not only to improve the livelihoods of millions of Congolese reliant on agriculture but also to contribute to sustainable long-term economic stability in the country.
Gilbert FOTSO
