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.
On July 15, the IMF Executive Board approved a three-year Extended Credit Facility (ECF) programme for the DRC. The new arrangement will help support the government’s efforts to mitigate the adverse impact of the pandemic and lay the foundation for a sustained economic recovery. This, coupled with the surge in both mineral output and prices, should enable an economic expansion of 4.7% in 2021. (Source: DRC Quarterly Update, published September 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-1.6 |
|
Consumer Price Index (% change y-o-y, avg) |
14.6 |
|
Current Account Balance (as a % of GDP) |
-2.2 |
|
Real GDP (annual % change) |
0.8 |
|
GDP per Capita, US$ |
556.8 |
|
Import Cover (months) |
0.6 |
|
Population, million |
89.6 |
| Total External Debt (as a % of GDP) |
12.9 |