The Republic of the Congo Ministry of Finance, Budget and Public Portfolio published an update on the 21st ordinary session of the Steering Committee of the Economic and Financial Reform Program of the Economic and Monetary Community of Central Africa (CEMAC-PREF), chaired in Brazzaville by Minister Christian Yoka and attended by Bank of Central African States (BEAC) Governor Yvon Sana Bangui. The agenda included review of a revised draft PREF-CEMAC matrix to implement decisions from the 16 December 2024 Extraordinary Summit of CEMAC Heads of State and additional measures for the subregion’s recovery, alongside updates on the operationalization of the unified financial market and the handling of remaining BEAC funds channelled via the Development Bank of Central African States (BDEAC) for COVID-19 response and health system strengthening. The revised matrix integrates measures prescribed by Heads of State, recommendations from the Ministerial Committee of the Central African Monetary Union (UMAC), and outputs from tripartite consultations with member states, community institutions and technical and financial partners. It adds 11 measures under fiscal policy, 19 under monetary policy and the financial system, and two under structural reforms, intended to support public finance viability, financial-sector stability and the external position of CEMAC. The release also cited BEAC data showing real GDP growth estimated at 2.6% in 2024 (1.9% in 2023) with forecasts of 2.9% in 2025 and 3.6% in 2026, inflation easing to 4.1% in 2024 (5.6% in 2023), and foreign exchange reserves covering 4.6 months of imports in 2024, while noting continuing risks linked to weak growth, state over-indebtedness and external vulnerabilities. Minister Yoka called for accelerated implementation of the revised matrix, with stated objectives including higher real growth rates by 2029, improved external accounts, more diversified economies, a more resilient financial system, structural reforms giving a larger role to the private sector, and stronger regional trade and factor mobility integration.
Ministry of Finance & Economy (Congo) 2025-04-11
Republic of the Congo Ministry of Finance, Budget and Public Portfolio steers CEMAC-PREF update adding new fiscal, monetary and structural measures
The Republic of the Congo Ministry of Finance reported on the 21st session of the Steering Committee of the Economic and Financial Reform Program of the Economic and Monetary Community of Central Africa (CEMAC-PREF). The session reviewed a revised draft matrix to implement decisions from the December 2024 CEMAC Summit, adding measures to support fiscal policy, monetary policy, and structural reforms. The update highlighted BEAC's GDP growth estimates and inflation forecasts, noting ongoing risks like weak growth and state over-indebtedness.