Democratic Republic of Congo
The DRC’s political environment presents elevated risk, and power struggles (which overlap with existing armed insurgencies) have a negative impact on the business and investment environment. Most of the economy remains based in the extractive sector and corruption and infrastructure gaps make business in all other sectors difficult.
The DRC’s strong mining sector remains the key driving force behind real GDP growth in the undiversified economy. Copper and cobalt mining recorded record-high production in 2018. GDP growth is estimated at 4.1% for 2018 and projected to reach 4.3% in 2019, but remains under pressure due to the international commodity price slump. CPI inflation was recorded at 21.7% last year, but is estimated to decline to 11.5% in 2019. Nevertheless, broader economic fragilities continue to pose downside risks. The December elections saw opposition leader Felix Tshisekedi ascend to the presidency in an election marred by controversy. He replaces President Joseph Kabila, who ruled the country for 18 years. (Source: DRC Annual Country Profile, published March 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-0.9 |
|
Consumer Price Index (% change y-o-y, avg) |
21.7 |
|
Current Account Balance (as a % of GDP) |
-2.5 |
|
Real GDP (annual % change) |
4.1 |
|
GDP per Capita, US$ |
518 |
|
Import Cover (months) |
0.6 |
|
Population, million |
84.2 |
| Total External Debt (as a % of GDP) |
12.2 |