DRC: economic growth stands at 5.3% at the end of 2021 and remains driven by the mining sector (Governor BCC)
In her communication during the 23rd meeting of the Council of Ministers, the Governor of the Central Bank of Congo (BCC), Malangu Kabedi Mbuyi, indicated that economic growth remains mainly driven by the mining sector and it stands at 5 , 3% at the end of 2021.
“The goods and services market remained stable with an annual cumulative inflation of 3.39% at the end of September 2021 while it was around 14% in 2020”, notes the report of the Council of Ministers .
The foreign exchange market remained broadly stable, evidenced by small variations in the exchange rate on both market segments. On an annual basis, the depreciation rate of the Congolese Franc is only 1.20% for the indicative and 0.93% for the parallel against a depreciation of around 14.7% and 14.3% during the period. corresponding in 2020.
As for the financial operations of the State, the general treasury account remains in surplus. Foreign exchange reserves stood at USD 3.3 billion as of September 30, 2021, or 3 months of imports of goods and services.
World prices of the DRC’s main export products have remained generally favorable.
Despite the observed stability, the national economy remains exposed to certain risks of external origin, in particular the low vaccination coverage in developing countries which could influence their economies and the trajectory of world growth.
The low vaccination coverage rate and the pressures on domestic demand which historically characterize the last quarter of the year marked by the preparation of the end-of-year festivities constitute risk factors at the internal level.
It should be noted that the Governor recommended maintaining the coordination of budgetary and monetary policies, the continued application of the stability pact, the close monitoring of liquidity factors and the implementation of the reforms adopted under the program with the IMF. . The Council of Ministers took note of this Report.
