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The Central Bank of Congo is considering a tax capable of increasing the state budget


Kinshasa The state's traditional income derives from two sources: tax revenues, ie, taxes, which account for more than 95% of total revenue, and non-tax revenues, mainly revenues from the sale of government property. Country. Thus, BCC intends to maximize this source of revenue to increase the state budget.

The Governor of the Central Bank of Congo reviewed the economic and economic situation as well as the financial stability of his institution in 2018. Déogratias Mutombo noted that the financial sector of the Congo has developed into a stable and stable macroeconomic framework. banking. The head of the IPO Institute spoke at a congratulations ceremony 2019 organized by the Association des Banque Congolaises last weekend in Kinshasa.

Speaking of the forecast, in 2019, the economic policy implemented by the government should strive to reduce the risks, to consolidate the current recovery and improve the prospects for medium-term growth. He is convinced, however, that fiscal policy should provide sufficient resources for the state budget to provide adequate funding for infrastructure, health and education.

For the governor of BCC Indeed, it is necessary to implement reforms already well designed to improve public revenue mobilization by combating the illegal tax fraud and leakage of financial flows that lead especially to the national economy.

Consolidation of Financial Stability

To establish financial stability, BCC said his boss, will continue to strengthen its control and supervision of banks and other credit institutions. In this regard, Dogogratias Mutombo believes that implementing macro-prudential supervision framework through early warning models and automatic production of financial stability assessment reports, will improve the assessment. Systemic risks and be proactive. The goal is to be a sound financial and collegial banking system to participate in the financing of the economy, said number 1 of the BCC.

"In 2019, the IPO will work to consolidate the current monetary stability by maintaining perfect and consistent coordination of monetary and fiscal policy as part of the continued implementation of the stabilization measures," said Daugertia Mutombo. According to him, in a prudent monetary policy, the Issuer Institute will always insist that the increase in the means of payment remains compatible with the target of an inflation rate of less than or equal to 7%.

The main challenges for banks in the DRC

For his part, President of the Union of Banks of the Congo (ACB), the YVES CUPERS highlighted the three main challenges facing the Congolese financial system both to its existence and to its development. These are the technological challenges, the ability of the banks to meet the criteria of strengthening their risk coverage and the government. These challenges, he admitted, are very large for the entire banking sector and for all players in the field without exception.

They are also important and important, such as when IT came to their business in the 1980s or when the financial system became, because of IT, a truly global ecosystem. "Yves Kuypers explained that this is a challenge of society and civilization:" We have no choice but to Of adaptation. "We enter a meaningless world, with bizarre names: e-money, virtual, Bitcoins, smart phone, digital bank, mobile payment, etc.

Not only do we enter the world with bizarre names, but we have new players who are not banks. I think here on telecom companies become banks. Now we're waiting for the banks to be telecoms companies, "he added with a hint of humor, and the banks' ability to meet the criteria for strengthening and capturing a lot of risks.

"To strengthen our ability to hedge and absorb risks, we are kindly requested to strengthen our credit on the model of banks in the OECD region." This is called the challenge of Bal criteria, "said Eve Cuypers. According to him, the Congolese banks and their shareholders will have to make significant efforts to meet these criteria whose composition or manner in which they are calculated can not be adapted to the reality of their environment.

Finally, the third challenge is governance and transparency, which are the two essential elements of the mature and reliable banking sector. According to Yves Cuypers, administration is the key to good relations that the sector must be with correspondent banks, especially those operating in US dollars.

To get there, the boss of commercial banks requested the support of the Monetary Authority. "We can not do it alone without the central bank, without the policy we expect to hear more certain provisions, taking into account our reality rather than the reality of this or that economic area," he said. He concluded.

Matty Mosau / Forum des As

(ROL / TH / GW / YES)

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