Do the Congo: the DRC is at last trying to clean up its economic act

Finance minister reviews mining contracts and hunts for new revenue sources to pay for social upliftment plans

05 October 2021 - 19:08 By Michael J Kavanagh

The Democratic Republic of the Congo is intent on revisiting mining contracts, rescinding and reselling unused oil permits and boosting taxes on beer to fund its development plans, according to Nicolas Kazadi, the country’s finance minister.  

A country the size of Western Europe with 80-million inhabitants, the DRC had a budget of just $4bn (R60bn) last year and poverty is rampant, despite its vast riches of copper, cobalt and other natural resources. The government needs more money to meet President Felix Tshisekedi’s pledges to provide free education and expand access to healthcare. The task of raising it has fallen to Kazadi, 55, an economist who previously served in the central bank and finance ministry.  ..

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