Public Management

DRC suspends VAT to curb inflation

DRC suspends VAT to curb inflation
Thursday, 21 April 2022 16:59

DRC currently sources about 70% of its wheat supplies from Russia and Ukraine. The ongoing Russia-Ukraine conflict fueled imported inflation in the country, which was already battling skyrocketing prices caused by international supply chain disruptions.  

The Democratic Republic of Congo announced Wednesday (April 20), the suspension of value-added tax (VAT) on a set of products. According to the release published by the Prime Minister’s Office to announce the decision, it aims to lower inflation and the price of essential goods like cement.  

According to Minister of Planning Christian Mwando (photo), additional measures have been taken, all aimed at lowering inflation. However, the release failed to mention them.   

The release also announced that the country has sufficient stock of petroleum products but, according to the economic assessment commission, measures are needed to deal with the impacts of international price surges. 

DRC heavily relies on imports for its petroleum product and foodstuffs. The international price surges coupled with the impacts of the war in Ukraine are sending prices up. One of the first measures taken by authorities (the parliament notably) because of the imported inflation was to demand the resignation of the country’s former Minister of Economy, Jean-Marie Kalumba. He was notably accused of being unable to take action to curb inflation. 

Jean-Marc Gogbeu

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
The government seeks to reclaim CFA803 billion in unpaid taxes from 2023–2024. The campaign follows an audit by a task force reviewing domestic and...
CDC-CI Capital invested CFA350 million ($620,500) in Ivorian e-health startup Ades to support its growth. The funds will finance medical equipment...
• Norfund invests $15M in Ghana’s B5 Plus steel group• Funds to upgrade steel plant, build 16MW solar facility• Project to cut emissions, boost...
Africa Reinsurance Corporation (Africa Re) inaugurated a new contact office in Kinshasa, Democratic Republic of Congo, on Thursday, October 9, 2025. The...

Most Read
01

• World Bank raises 2025 growth forecasts for Benin, Mali, Burkina, Côte d’Ivoire• Senegal and Niger...

World Bank Revises Up 2025 Forecasts for Four WAEMU Countries, Amid Falling Inflation
02

Côte d’Ivoire traced 40% of cocoa for 2024/25 season Most cocoa remains untracked due to info...

With 40% of Its Cocoa Traceable, Côte d’Ivoire Faces a Race to Meet New E.U. Standards
03

• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.• Talks focused on jo...

AfDB, BOAD join forces to expand financing for West Africa projects
04

IFC will provide up to $40 million to Banque Islamique du Sénégal (BIS) under a Mourabaha agr...

IFC Lends $40 Million to Senegal’s Islamic Bank to Triple SME Loans
05

51 partnership agreements signed at the 2025 edition of the forum Investments span energy, tr...

Senegal Investment Forum Secures $23.5bn in Commitments
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.