DRC: the Economic Conjuncture Committee notes a 25% drop in local cement production
The Ilunkamba Government maintains the requirements of the stability pact of the macroeconomic and monetary framework that links it to the Central Bank of Congo, BCC, to keep economic indicators stable in the Democratic Republic of Congo. The traditional Economic Conjuncture meeting chaired by the Prime Minister, Ilunga Ilunkamba, this Tuesday, December 15, 2020 at the Prime Minister’s Office, revealed that thanks to the efforts of two parties, the Congolese franc is showing stability, and is changing on the market at approximately 1968.58 FC for the callsign, against 2018.83 FC for the parallels.
In her restitution of this working session, the Deputy Prime Minister, Minister of Planning, Élysée Munembwe, announced an acceleration in the rate of price formation during the second week of December. Inflation fell 0.127% from 0.120% last week, she said. This situation is due to the rise in the prices of certain products, in particular cereals, meats, oils, vegetables, clothes, shoes, but also school fees.
Regarding the evolution of the economic situation in the short term, the barometer of the Central Bank of Congo indicates that the heads of companies were not very optimistic. This is evidenced by an overall gross option balance of 4.3% after 5.4% last October. This is explained by the decline in confidence in the construction sector and that of the extractive industry. The CCE also noted on the one hand the increase in electrical energy production, supported by the commissioning of the G24 group of the Inga 2 hydroelectric plant as well as the increase in the number of operating hours group number 6 Inga 1, and on the other hand, the drop in cement consumption following the 25% contraction in local production.
Regarding the mining sector, the members of the CCE observed an improvement in the prices of metals with the exception of Cobalt which fell on the market.
The CCE also once again invites the population to respect the barrier measures to stop the chain of contamination of the Coronavirus disease, in the face of the ever-increasing increase in cases tested positive for COVID-19.
