In order to diversify its economy, the Democratic Republic of Congo is preparing to take short-term economic measures. These measures were presented and discussed at the 99th meeting of the Council of Ministers held on May 19, 2023 by the Minister of Foreign Trade, Jean-Lucien Bussa Tongba. The aim is to boost the country’s economic growth, which is currently heavily commodity-based.
The minutes of the meeting report that the Minister explained the need to align the objectives of the growth sectors with those of the support and cross-cutting sectors, and defined the intersectoral links. He also presented 20 regulatory measures, budgetary and tax measures, as well as financing instruments to achieve this objective.
Apart from its mineral wealth, the Democratic Republic of Congo has other advantages such as extensive equatorial forests, which occupy half of the territory and give it the title of the first country in Africa in this regard. The conservation of these forests also contributes to the preservation of the global environment. The diversification of the economy could thus allow for more stable and sustainable economic growth, while preserving the country’s natural wealth.
These economic measures are important in a context where the country’s political situation is unstable and marked by tensions. Indeed, opposition marches were violently repressed in Kinshasa and other regions, provoking the condemnation of several international organizations and political figures, including the Nobel Peace Prize winner. Human rights defenders have also called for action to end the violence.
Apart from economic diversification, the Democratic Republic of the Congo must also face many challenges such as security, violence in Lubero and in the Bashu chieftaincy, or the massacres in Beni, which cost the lives of sixteen people. The country is therefore going through a complex period, but the adoption of short-term economic measures could bring the economic stability necessary to resolve these difficulties.