In-Depth Analysis
Democratic Republic of Congo
The DRC still bears the brunt of widespread conflict, rampant corruption, a weak regulatory environment, and an over-reliance on mining; hence, the DRC struggles to capitalise on its vast natural resources. The economic impact caused by the Covid-19 pandemic has been marked, albeit softer than anticipated due to stronger-than-expected mining production during the lockdown period.
A surge in key commodity prices and an increase in mineral output should pave the way for GDP growth to rebound to 3.9% in 2021. A recovery in consumption and investment is also expected to support the economy this year. Nevertheless, the DRC will continue to bear the brunt of limited economic activity, large twin deficits, a weakening Congolese franc, and a low level of foreign reserves. (Source: DRC Annual Country Profile, published March 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-2.43 |
|
Consumer Price Index (% change y-o-y, avg) |
14.56 |
|
Current Account Balance (as a % of GDP) |
-4.61 |
|
Real GDP (annual % change) |
-2.81 |
|
GDP per Capita, US$ |
544.21 |
|
Import Cover (months) |
0.44 |
|
Population, million |
89.56 |
| Total External Debt (as a % of GDP) |
12.59 |