Congo’s Central Bank expects 2.9% GDP growth in 2017

January 1, 2017

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 expects the country’s GDP to grow by 2.9 per cent this year, up from 2.5 per cent in 2016, as commodity exports pick up again, according to statement on Sunday.

The bank’s statement noted that mining and oil sectors account for some 95 per cent of export revenues in Congo, Africa’s top copper producer.

It stated that low commodity prices led the central bank to lower its 2016 growth forecast last week for the fourth time from an original projection of nine per cent.

Reuters

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