The economy of the Democratic Republic of Congo (DRC) continues its growth trajectory, marking a significant progression according to the latest projections of the International Monetary Fund (IMF). In the new report entitled “Economic Outlook for Sub-Saharan Africa, October 2024”, the IMF announces an anticipated increase in wealth created in the DRC by 2029, reaching an impressive total of 372,325.2 billion Congolese Francs (CDF).
These figures, revised upwards compared to previous forecasts, reflect an optimistic economic dynamic for the country. While the dollar values of this wealth creation are slightly revised downwards, the anticipated devaluation of the Congolese Franc is shaping up to be an issue to watch, with an exchange rate projected at 3,705 CDF per dollar in 2029.
At the same time, GDP in purchasing power parity (PPP) is also revised upwards, reaching USD 266.6 billion for 2029. These figures demonstrate a certain economic resilience of the DRC despite persistent challenges.
Investment remains a key pillar of this growth, with an average rate estimated at 15.6% of GDP for the period from 2023 to 2029. Projected inflation of 6.9% by then could also impact Congolese households, posing challenges but also opportunities in terms of economic growth.
It is crucial for the authorities to focus on structuring projects aimed at revitalizing the economic fabric, strengthening the country’s resilience and prosperity in the face of economic uncertainties. By cultivating a favorable investment climate and implementing clear and sustainable economic policies, the DRC can continue its growth momentum and offer more opportunities to its population.
These IMF forecasts offer an optimistic outlook on the DRC’s economic future, emphasizing the importance of efficient resource management and coherent economic policies to ensure the country’s sustainable and inclusive development.