2023-12-14 18:22:35
The improvement in financial authorities should continue in 2024, with an overall increase in their revenue of around 16.7%, according to projections from the Ministry of the Economy and Finance.
What MIDA / Illustration : Table of Budget revenue forecasts for 2024 (in billion CFA francs)
Budgetary resources would appear in 2024 at a total amount of 2,076.0 billion CFA francs, an increase of 12.8% compared to the initial 2022 budget, according to the Economic and financial report annexed to the draft budget, financial year 2024. This performance would be driven by all the authorities which should record an overall increase in their revenue of around 16.7%, projects the General Directorate of the Budget (Dgb).
The distribution of gross revenue forecasts of the authorities (including allocation revenue and exemptions) in 2024 shows a forecast of 698.9 billion F Cfa for Customs compared to an initial forecast of 600.0 billion F Cfa in 2023, an increase of 16.5%. Exemptions are planned for 106.9 billion CFA francs in 2024 compared to an estimate of 72.0 billion CFA francs for the year 2023.
The Tax Administration will have to mobilize 1,112.6 billion CFA francs against a forecast of 874.9 billion CFA francs in 2023, an expected increase of 27.2%. Exemptions are planned for 7.9 billion CFA francs and 11.8 billion CFA francs, respectively for the years 2023 and 2024.
On the other hand, revenue forecasts at the Treasury level are down. They stand at 103.2 billion CFA francs in 2024 compared to a forecast of 165.8 billion CFA francs in 2023, a decrease of 37.7%.
As for the National Agency for Land and Land (Andf), it will have to mobilize for the benefit of the State the sum of 5 billion CFA francs in 2024 as in 2023.
Good start!
Regarding “Other budgetary revenue”, the forecasts stand at 89.7 billion Cfa for 2024 compared to 125.5 billion Cfa in 2023, a drop of 28.5%, driven both by donations budgetary as well as through competition funds and project donations.
The financial operations of the State would be marked by an expected increase of 198.8 billion CFA francs in state budget revenues, and an increase of 68.3 billion CFA francs in expenses for 2023, according to the document. Fiscal Risk Statement (Drb) backed by the 2024 finance and management bill. Although these forecasts may be revised downwards depending on a certain number of budgetary constraints, in particular the persistence of the Russo-Ukrainian war and especially the crisis in Niger having led to a slowdown in activities at the port of Cotonou, the projections demonstrate the good health of Benin’s financial authorities.
Indeed, the modernization of financial authorities, in particular the dematerialization of procedures and other structural reforms, makes it possible to strengthen the mobilization of tax revenues, despite exogenous shocks such as inflation, geopolitical tensions, and tightening financial conditions. The total revenue of financial authorities thus increased by 31.2% between 2020 and 2022 compared to an increase of 25.0% for expenditure over the same period. Indeed, the total revenue of financial authorities stood at 1,498.6 billion CFA francs in 2022 compared to 1,295.7 billion CFA francs in 2021, thus achieving an increase of 15.7%.
Budget revenue forecasts for 2024 (in billions F CFA)
QA December 14, 2023
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