Title: The Governor of the BCC presents economic developments in the DRC
Introduction :
During the meeting of the Council of Ministers, the governor of the Central Bank of Congo (BCC), Malangu Kabedi, made a detailed presentation of the evolution of the economic situation in the DRC. In her briefing note, she discussed different aspects such as the market for goods and services, the foreign exchange market and the growth of the national economy. This analysis makes it possible to become aware of the opportunities and challenges that present themselves to the DRC on the economic level.
A decelerating market for goods and services:
According to the governor of the BCC, a sharp deceleration in the rate of price formation was observed in the market for goods and services in the DRC. This drop is explained by a reduction in demand after the festive periods. Weekly inflation thus reached 0.1%, a significant drop compared to the previous week when it was 0.6%. Despite this, inflation is expected to continue to slow in 2024 thanks to economic stabilization measures and sound fiscal policy.
Stability of the foreign exchange market:
The governor also noted stability in exchange rates in both segments of the foreign exchange market in the DRC. The variations remained small, with an increase of only 0.03% on the indicative segment and 0.05% on the parallel segment. This stability is the result of economic stabilization measures put in place by the authorities. It helps maintain an economic environment conducive to commercial exchanges.
Firm economic growth despite challenges:
Despite a difficult internal and external environment, the BCC governor stressed that the growth of the national economy in the DRC remains firm. According to government forecasts, real GDP is expected to increase by 4.8% in 2024, driven largely by the dynamism of the extractive industries. This growth demonstrates the economic resilience of the DRC despite the challenges it faces.
Recommendations for continued economic stability:
Following her presentation, the governor recommended several measures to maintain economic stability in the DRC. Among these recommendations, we can cite the maintenance of stabilization measures, the strengthening of coordination between monetary and budgetary policies, as well as the continuation of the restrictive orientation of monetary policy. These actions will make it possible to consolidate the economic progress made and prepare for the future in a sustainable manner.
Conclusion :
The BCC Governor’s presentation on economic developments in the DRC highlights both the progress made and the challenges to be met. Despite difficulties, the DRC shows firm economic growth and encouraging prospects. By following the BCC’s recommendations, the country can maintain its economic stability and continue its development in the years to come. Rigorous and effective management of economic policies will be essential to ensure the sustainability of this progress.