Democratic Republic of Congo Bi-Annual Economic Report, Spring 2011
This report is part of a series aimed at monitoring economic developments in the Democratic Republic of Congo (DRC). The main objective of these reports is to provide regular updates on key macroeconomic developments and reform initiatives. The rep...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Kinshasa
2017
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| Online Access: | http://documents.worldbank.org/curated/en/290971468246354747/Congo-Democratic-Republic-of-Bi-annual-economic-report http://hdl.handle.net/10986/27248 |
| Summary: | This report is part of a series aimed at
monitoring economic developments in the Democratic Republic
of Congo (DRC). The main objective of these reports is to
provide regular updates on key macroeconomic developments
and reform initiatives. The reports focus on macroeconomic
developments and key structural reforms that have both
significant short and medium term impacts. This report
presents a broad overview of macroeconomic, political and
structural developments in the DRC up to January 2011 and
the outlook for the remainder of 2011. DRC's
constitution adopted in 2006 has been revised in January
2011 by Parliament. The main changes to the original texts
include the election of the president by a majority in a
single round vote. The Congolese authorities have maintained
prudent fiscal policies under the International Monetary
Fund (IMF) Extended Credit Facility (ECF) program, which has
achieved the main objectives of this program in 2010 with an
inflation rate (end-of-period) below the target of 9.9
percent. The economy has registered, thanks to the dynamism
of the mining sector, a solid growth rate of 7.2 percent
compared to 2.8 percent in 2009. Gross Domestic Product
(GDP) growth for 2011 is projected to reach 6.5 percent. The
country's external position has improved. The current
account balance, including grants, improved from a deficit
of 10.5 percent of GDP in 2009 to 6.8 percent in 2010.
Favorable commodity prices on the world market contributed
to this development. |
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