The Central Bank of Congo (BCC) recently published its economic outlook for the week of May 19 to 26. According to this note, the Congolese foreign exchange market remained relatively stable from one week to the next, with an appreciation of 0.6% of the Congolese franc against the US dollar on the official market.
However, on the parallel market, the Congolese franc depreciated slightly by 0.11% on a weekly basis, placing the rate at 3,354.8 Congolese francs. At the national level, the average exchange rate stood at CDF 2,319.44 per US dollar, representing a weekly depreciation of 0.27%.
Regarding the execution of the budget in foreign currency, the BCC noted a deficit of 94.09 million US dollars as of May 23, resulting from revenues of 68.9 million US dollars and expenses of 162.9 million US dollars. U.S. dollars.
International reserves reached $4.1 billion as of May 25, representing 2.25 months of import cover.
These latest economic developments come against a backdrop where the Congolese political scene is marked by significant advances, including the extraordinary summit of the East African Community and the ongoing investigation by the International Criminal Court into the crimes against humanity in the province of Lituari.
However, citizen movements in the DRC continue to mobilize to challenge restrictions on civic space and electoral pressure. However, initiatives such as the Salon des jeunes entrepreneurs congolais offer a day of inspiration, exchange and financing for the future of the Congolese economy.
Overall, the economic and political situation in the DRC remains dynamic with progress and ongoing challenges. Citizens, businesses and policymakers will need to continue working together to find sustainable solutions for the country’s future