The Democratic Republic of the Congo is ranked 39th among 47 countries in the Sub-Saharan Africa region, and its overall score is well below the regional and world averages.Index scoring for the DRC resumed in 2009 after an eight-year absence when credible data were not available because of instability and violence, and the level of economic freedom has improved only sporadically since then. …
Total expenditure on health as % of GDP (2014) 4.3: Latest data available from the Global Health Observatory: Contact information. A spike in unemployment and underemployment, coupled with higher inflation, bode ill for household incomes and thus consumption. The average applied tariff rate is 10.2 percent, and one nontariff measure is in force. While its poverty rate has fallen slightly over the past two decades, particularly in rural areas, the DRC nonetheless remains one of the poorest countries in the world. The corporations instigate and allow the fighting for resources because they benefit from it.
Government spending has amounted to 12.4 percent of the country’s output (GDP) over the past three years, and budget deficits have averaged 1.0 percent of GDP.
Rich in minerals, the Democratic Republic of the Congo has a difficult history of predatory The conflicts in the DRC were over water, minerals, and other resources. A large proportion of fatalities in the country are attributed to a lack of basic services
The DRC is Africa’s largest copper producer and the world’s largest cobalt producer, but its political instability and high inflation discourage international investors.
The Central Bank of the Congo is responsible for developing and maintaining the Congolese franc, which serves as the primary form of currency in the Democratic Republic of the Congo. A number of IMF and World Bank missions have met with the government to help it develop a coherent economic plan, and President Kabila has begun implementing reforms. GDP growth has been robust in the past five years, however, due to rising global prices for commodities.If the DRC is to have any chance at sustainable development, the government will need to prioritize reforms to improve financial freedom and attract foreign investment. The government has been unable to provide foreign exchange for economic transactions, while it has resorted to printing money to finance its expenditure.
Militia groups are active throughout the country. The government has been unable to provide foreign exchange for economic transactions, while it has resorted to printing money to finance its expenditure. Subdued foreign demand may also constrain exports, particularly of mining products. The biggest problem with the vote is getting a country of 68 million people the size of Western Europe to polling stations with less than 1,860 miles of paved roads.Agriculture is the mainstay of the economy, accounting for 57.9% of the GDP in 1997. Poor economic management aggravated by repeated political crises has severely constrained domestic and foreign investment, trapping much of the population in a persistent shortage of economic opportunity.
Rep. Congo 2018 2697 Boulevard Colonel Tshatshi Kinshasa - Gombe Email: RR-COD@imf.org Tel: +(243) 81 700 6183 The heavily subsidized and loss-making state-owned SNEL power utility produces nearly all of the country’s electricity, but only about 10 percent of the population has access to it.The total value of exports and imports of goods and services equals 71.0 percent of GDP.
This is worsened as a result of corrupt national and international corporations. The Congolese government started negotiating membership in the Organization for the Harmonization of Business Law in Africa (OHADA), in 2009. The country is among the world’s least developed.Although the constitution protects the ownership of private property, enforcement is lacking, and armed groups and government soldiers have seized private property and destroyed homes in conflict zones.
The corporations that dominated the economy were mostly owned by Faced with continued currency depreciation, the government resorted to more drastic measures and in January 1999 banned the widespread use of American dollars for all domestic commercial transactions, a position it later adjusted. Office Information.
Resident Representative for Democratic Republic of the Congo Philippe Egoumé Resident Representative .