Congo has revised its budget up by 43.4 per cent, thanks to a windfall from high crude oil prices, government spokesman, Mr. Alain Akouala, announced on Thursday. The figures have been revised upward from 1,921.2 billion FCFA to 2,756 billion FCFA, he said after a cabinet meeting. Mr Akouala added that oil revenues initially envisaged at 1,571.1 billion FCFA hit 2,373 billion FCFA. In the revised budget calculated on the basis of 112.384 US dollars per barrel against 72 US dollars per barrel initially, the operational budget increased by 6.38% against 1.11% for the investment budget. Oil production estimated at 256,000 barrels per day will have to increase by 35% following the commencement of production last May from the Moho Bilondo field by French group Total which is expected to produce 90,000 barrels per day. Oil is the main export commodity of the country.
