22 August 2014

Congo-Brazzaville: Congo Brazzaville 2014 Budget Reviewed Downwards

The government says falling oil revenue as a result reduced production prompted the decision.

Parliament in Congo Brazzaville last week passed a new budget for the 2014 financial year after the government realised that the former projections could no longer be attained as a result of falling oil revenue sequel to a reduction in production.

The local press cited Finance Minister, Gilbert Ondongo, as explaining that the hosting next year of the All-Africa Games by the country also warranted the decision after it was noticed that the funds initially budgeted for the construction and refurbishment of facilities were insufficient.

The revised State budget which now stands at FCFA 3,932.9 billion, down from over FCFA 4,000 billion, has increased allocations for the hosting of the games. Similarly, the government wants to speed up the construction of general hospitals in the country's 12 divisions; thus the need for more funds.

A total of FCFA 620 billion from the new budget will be spent among others, on the construction of the Kintélé Sports Complex, university facilities, the Talangaï Flyover, a bypass and third road entrance to the north of the capital, Brazzaville.

According to the Economic and Finance Committee of the National Assembly, the budget adjustments are part of President Denis Sassou Nguesso's 'Future Path' policy contained in the 2012-2016 development plan, which seeks to raise investments in social infrastructure and the diversification of the economy.


Congo Calls for Peaceful Settlement of South China Sea Issue Through Consultations

The government of the Republic of Congo (ROC) issued a statement yesterday evening, calling on directly related… Read more »

Copyright © 2014 Cameroon Tribune. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 1,000 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.