The IMF warns, the increase in mining revenues will not be enough to offset certain expenses- DRC
The Executive Board of the International Monetary Fund has concluded the 2022 consultations and the review of the Extended Credit Facility for the Democratic Republic of the Congo.
All indicative targets were met except for social spending.
The IMF points to persistent shortcomings in inter-ministerial coordination.
He also points out other weaknesses and calls for caution.
For this year, growth was reduced to 6.1% (against 6.4% previously).
Despite excess liquidity, credit to the private sector remains weak (at 7% of GDP) and the banking sector vulnerable, she said.
The IMF also specifies that the increase in mining revenues will not be enough to offset certain expenses such as the fuel subsidy.
The financial institution recommends that the government take advantage of the medium-term outlook to further consolidate macroeconomic stability and intensify structural reforms.
[…] The IMF Warns, the Increase in Mining Revenues will not be Enough to Offset Certain Expenses- DRC […]