Recent developments in the economic situation in the Democratic Republic of Congo (DRC) were presented by the Deputy Prime Minister, Minister of National Economy, Vital Kamerhe, during a meeting of the Council of Ministers. These salient elements were addressed in an information note which highlights the measures taken to strengthen the supply of petroleum products, economic control, the operationalization of the Economic Regulation Fund (FOREC) and the limit of the sliding of the rate change.
With regard to the supply of petroleum products, the Minister stressed the need to strengthen the operational mechanism in order to guarantee the solvency of the cash supply system for oil companies. Strategies have been put in place to rationalize the oil subsidy, in particular by considering a counterpart from the miners in Haut-Katanga and Lualaba who have benefited from indirect state interventions.
Economic control was also addressed, with a strengthening of the market surveillance system to discourage illicit pricing and stockholding practices that negatively impact domestic prices. Anticipation and adaptation measures have been taken to diversify the sources of supply of wheat flour and promote the development of a local agricultural industry for wheat.
The operationalization of the Economic Regulation Fund (FOREC), created in 2008 but remained inactive for a long time, was mentioned by the Minister. This fund, made available to the Ministry of the National Economy, will play an important role in stabilizing prices and preventing shortages and disruptions in the supply of consumer products.
Finally, exchange rate slippage and its impact on domestic prices was discussed. The Minister proposed the establishment of special counters for the sale of foreign currencies for importers of certain consumer products, in order to limit the slippage of the exchange rate. He also encouraged the implementation of economic diversification measures adopted during the Council of Ministers, within the framework of the acceleration of the Local Development Program of the 145 Territories.
It is important to note that the Council of Ministers took note of this information note presented by Deputy Prime Minister Vital Kamerhe.
In conclusion, these recent developments in the economic situation in the DRC testify to the efforts made by the government to guarantee the supply of essential products, control illicit economic practices, operationalize the Economic Regulation Fund and limit the slippage of the exchange rate. These measures are essential to ensure the country’s economic stability and promote sustainable development