While the state provided a small surplus of CDF 0.2 billion, the execution of government operations at the end of March ended with a deficit of 54.4 billion Congolese francs.
According to the governor of the Central Bank of Congo (BCC), who mentioned it during a press briefing held Tuesday, April 30 after a meeting of the Monetary Policy Committee, this deficit is mainly from rising expenses rather than low revenues.
“The expenses were also borne by those executed in the framework of the implementation of the emergency program of the President of the Republic.In cumulative annual, the situation of the Treasury indicates a deficit of 43.3 billion CDF against a deficit The Committee for Monetary Policy (CPM) said that the situation should improve in April, which is an important tax deadline.
On the foreign exchange market, the CPM noted the continued stability of the national currency in both segments. At the end of March, the indicative exchange rate stood at CDF 1,639.0 per US dollar and the parallel exchange price at CDF 1,667.0 per US dollar, representing monthly depreciations of 0.12% and 0.37%, respectively.
As for foreign exchange reserves, they saw a monthly decline of 68.7 million USD, explained by the need to meet mainly some priority expenditures in foreign exchange of the State. Reserves at the end of March amounted to USD 901.2 million, corresponding to 3.0 weeks of imports of goods and services from own resources.