Congo central bank cuts 2016 GDP growth forecast to 2.5%

December 26, 2016

The Democratic Republic of Congo's President Joseph Kabila attends the extraordinary summit of the International Conference on the Great Lakes Region (ICGLR) head of states emergency summit in Uganda's capital Kampala September 5, 2013. ICGLR members states condemned the resumption of hostility in eastern Congo and ordered the resumption of peace talks between M23 rebels and the Congo government to start in three days in Kampala. REUTERS/James Akena (UGANDA - Tags: POLITICS CIVIL UNREST CONFLICT)

Democratic Republic of Congo’s central bank cut its 2016 GDP growth estimate to 2.5 percent from an earlier forecast of 4.3 percent due to low commodity prices, it said in a report on its website.

Congo, Africa’s largest copper producer, recorded 6.9 percent growth in 2015 but the output of copper, cobalt and gold have all fallen this year. The mining and oil sectors account for some 95 percent of export revenues.

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