DRC: Democratic Republic of the Congo: The Next Emerging Economy?

May 7, 2015 | Djenabou Cisse, Global Risk Insights
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With positive macroeconomic indicators, the Democratic Republic of the Congo is aspiring to be an emerging country by 2030. To achieve this goal, the country appears to be more willing to implement significant reforms. During his last visit to the DRC in March 2015, IMF deputy managing director David Lipton said he was impressed by the country’s economic progress over the past five years. This is fair; despite a difficult security environment, the country has managed to increase its average growth rate from 2.8% in 2009 to 8.7% in 2014, recording the third fastest growth rate in the world this year. Inflation has decreased from about 50% in 2009 to 1% since 2013, thanks to cautious monetary and budgetary policies. If the country truly is at a turning point, it can finally capitalise on its huge economic potential.