Category: Economy

The Observatory of Public Expenditure (ODEP) reveals in its report entitled “Cost of living and decline in the purchasing power of the population: the explanations of the ODEP” that the prices of consumer products in Kinshasa, in the Republic Democratic Republic of the Congo, have increased alarmingly. According to ODEP, this situation is due to low investment in the agricultural sector and excessive dependence on imports. The NGO also denounces the persistent influence of the neo-colonial system and corruption in the management of public resources. To address this, ODEP advocates a more radical approach focused on eradicating poverty, meeting basic needs and fighting corruption. It is urgent that concrete measures be taken to improve the standard of living of the Congolese.

In its study on the high cost of living in the DRC, the ODEP highlights the rise in the prices of consumer products in Kinshasa. This increase impacts the purchasing power of the Congolese but is caused by internal factors such as the lack of importance given to the agricultural sector and the continuity of the neo-colonial system. The study identifies neo-colonial domination, inappropriate policies, elite complicity and corruption as responsible factors. The ODEP proposes a radical economic approach centered on the well-being of the population and insists on the need to develop the agricultural sector, to fight against corruption and to adopt good governance practices. It is time for the DRC to take action to reverse the trend and build a better future.

The Democratic Republic of Congo (DRC) is facing a considerable increase in the cost of living and a decline in the purchasing power of its population, according to a study by the Observatory of Public Expenditure (ODEP). The causes of this situation include the neo-colonial system, the adoption of inappropriate economic policies, corruption and the embezzlement of public revenues. To remedy this, ODEP advocates a radical approach focused on eradicating poverty, meeting basic needs and redistributing power. Concrete and collective measures are necessary to improve the situation of the Congolese. The article stresses the importance of highlighting these problems and finding lasting solutions.

The Minister of Infrastructure of the Democratic Republic of Congo, Alexis Gisaro, recently visited road rehabilitation sites in Kinshasa. Complete rehabilitation works have been undertaken in several communes, notably Lemba, Limete, Kisenso and N’sele. This work helps to improve the circulation of people and goods, thus promoting the economic development of the region. The Minister’s visit bears witness to the Congolese government’s commitment to improving infrastructure and the living conditions of the population.

The blog post highlights the high cost of living and declining purchasing power in the DRC. The lack of local production and dependence on imports are the main causes of this situation. The study highlights the neo-colonial system, adherence to inappropriate liberal economic theories, the complicity of ruling elites with imperialism, as well as corruption and embezzlement of public revenues as contributing factors to this problem. ODEP recommends a radical economic approach focused on eradicating poverty, meeting basic needs and decentralizing power. Investments in the agricultural sector, the fight against corruption and better governance are also necessary. The DRC must also defend its economic interests and free itself from all forms of neo-colonialism. Collaboration between political decision-makers, economic actors and civil society is crucial to put in place coherent and effective policies aimed at improving the daily lives of Congolese and their purchasing power.

In the first quarter of 2023, the Democratic Republic of Congo recorded a significant export of diamonds, generating revenues of more than $20 million. This export is the result of both artisanal mining and industrial mining. Artisanal mining accounts for the majority of diamond production, with more than 1.8 million carats exported. The main contributing provinces are Kasaï-Oriental and Kasaï-Central. Industrial mining, for its part, reached a volume of nearly 300,000 carats, mainly thanks to the contribution of SACIM and MIBA. These figures demonstrate the potential of the Congolese diamond sector, but also underline the importance of responsible mining and support for artisanal mining. By taking care of these aspects, the Congolese diamond industry can continue to prosper and contribute positively to the economic development of the country.

The Congolese government has taken steps to halt the depreciation of the national currency by publishing the official and parallel exchange rates daily. Additional measures, such as raising the central bank’s policy rate, will be put in place to stabilize the currency. It is important to emphasize that this economic crisis is global and the DRC is actively working to find solutions and restore economic stability to the country. Transparency and communication are key elements in tackling this crisis.

In this article excerpt, we discover an awareness campaign led by CAFCO and UN Women to encourage people with disabilities to engage in formal entrepreneurship. The objective is to inform and support these people in their process of formalizing their economic activities. Recommendations were made, notably in favor of a government support mechanism and the strengthening of entrepreneurial capacities. By announcing a reduction in the price of the trade register and movable property credit, the CAFCO wishes to facilitate access to these administrative documents. This will allow people with disabilities to develop their entrepreneurial potential and contribute to the development of their community.

The depreciation of the national currency in the DRC is a major challenge for the government. In this article, we examine the measures taken to stabilize the foreign exchange market. Among these measures, the daily publication of official and parallel exchange rates in the media aims to create greater transparency and prevent speculation. Mandatory display of exchange rates inside exchange offices promotes trust and transparency in transactions. By using traditional instruments such as raising the policy rate, the government seeks to absorb excess liquidity and restore the balance between supply and demand. These measures aim to restore confidence and maintain the stability of the local currency in the context of a global economic crisis.

The Democratic Republic of the Congo is facing a depreciation of its currency, which leads to a significant increase in the prices of goods and services. Basic foodstuffs are becoming unaffordable for many households, jeopardizing their purchasing power. Teachers, who receive salaries in Congolese francs, are also affected by this precarious situation. Economic experts point to the weakness of the Congolese economy as the main reason for this depreciation, and call for the dedollarization of the economy and the creation of exchange offices to make the process more transparent. To get out of this crisis, it is crucial that the Congolese state promotes investment and entrepreneurship in order to generate foreign exchange and stabilize the currency.