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 economy is forecast to expand by an average of 4.0% p.a. over the 2021-23 period due to new positive developments: the new Kamoa-Kakula copper mine started production ahead of schedule, copper prices soared to an 11-year high, IMF members reached a staff-level agreement with the country, and an investor has shown fierce determination in reviving the Grand Inga project. That said, the DRC is still vulnerable to external shocks and is experiencing a third wave of Covid-19 cases. (Source: DRC Quarterly Update, published June 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) |
-2.8 |
|
GDP per Capita, US$ |
545.1 |
|
Import Cover (months) |
0.6 |
|
Population, million |
89.6 |
| Total External Debt (as a % of GDP) |
12.3 |