Finance

DR Congo: The government plans on economic growth of 9% in 2016

Monday, 28 September 2015 16:56

The government of the Democratic Republic of Congo announced, on 26th September that its plans were for an economic growth of 9% in 2016 against the 8.4% forecast for 2015. This projection is part of a presentation for the Finance bill for 2016.

To reach [its] economic goals”, the government indicates, without adding more details, that it is “considering a set of measures” intended to finance “projects in growth sectors such as agriculture, transports and energy”.

On 24th August, the Congolese government had decreased its growth forecast pour 2015 to 8.4% against a previous projection of 10%, due in part to the drop in copper prices on the international market following fears of a slowdown in the Chinese economy.

The mining sector is the main driver of the high growth experienced for a few years now by DR Congo, which ranked last but one in the human development index established by the UN even though its subsoil is extremely rich in natural resources (farmlands, ores, wood, water among others).

The 2016 budget drawn up by the government was decreased by 0.7% compared to the 2015 Finance Law, at USD 9.2 billion.

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