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.
The mining sector maintained its upward momentum in the early stages of H2 2020; consequently, copper production reached 1,319,622 tonnes (+12.5% y-o-y) in the first 10 months of 2020, while cobalt production rose to 71,694 tonnes (+10.2% y-o-y). That said, supply chain disruptions, weak global demand, and fairly subdued commodity prices are set to undercut these gains. As a result, we forecast the economy to contract by 3.1% in 2020. (Source: DRC Quarterly Update, published December 2020.)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-2.2 |
|
Consumer Price Index (% change y-o-y, avg) |
4.5 |
|
Current Account Balance (as a % of GDP) |
-3.6 |
|
Real GDP (annual % change) |
4.4 |
|
GDP per Capita, US$ |
544.9 |
|
Import Cover (months) |
0.5 |
|
Population, million |
86.8 |
| Total External Debt (as a % of GDP) |
11.5 |