Scale of acute hunger in the democratic republic of the. Economic indicators for democratic republic of the congo including actual values, historical data, and. This impacts economic growth domestically and internationally. Written by global risk insights may 11, 2015 during his last visit to the drc in march 2015, imf deputy managing director david lipton said he was impressed by the countrys economic progress over the past five years. The democratic republic of congo drc has the second largest swath of rainforests in the world 8 million hectares, accounting for more than half of the total remaining rainforest in the congo basin. A referendum approved in 2015 modified the constitutional limits so that sassou nguesso could run again. Access congo, democratic republic ofs economy facts, statistics, project information, development research from experts and latest news.
Democratic republic of the congo international monetary fund. To know the level of economic freedom in the democratic republic of congo. The democratic republic of congo also possesses 50 percent of africas forests and a river system that could provide hydroelectric power to the entire continent, according to a united nations report on the countrys strategic significance and its potential role as an economic power in central africa. Ebola virus disease outbreak democratic republic of the. This reflects, first, the slowdown in the extractive industries because their. Democratic republic of the congo economic indicators.
Violence in the democratic republic of congo global. Browse additional economic indicators and data sets, selected by global finance editors, to learn. The congo river is the worlds deepest river and the worlds secondlargest river by discharge. Most news headlines from the democratic republic of the congo drc have. Democratic republic of the congo the democratic republic. Relations with republic of the congo united states. We highlight large differences in the socioeconomic impact of these two outbreaks. Congo kinshasa the world bank on the democratic republic of congo, 1999washington, dc a country brief and data pdf file. Country report 2017 includes the democratic republic of the congo real gross domestic product growth rate, with latest forecasts and historical data, gdp per capita, and gdp composition by sector. A referendum approved in 2015 modified the constitutional limits so that sassounguesso could run again. It boasted a thriving mining sector and its agriculture sector was. Democratic republic of the congo 4 international monetary fund taking stock of poverty in the democratic republic of the congo1 poverty has receded in the democratic republic of the congo drc over the last decade on the back of gradual stabilization in the security and political situation, strong economic growth, and sharp. Democratic republic of congo extractive industries transparency. Our aim is to promote global peace, prosperity, and.
Democratic republic of the congo economy comparison. The republic of the congo s economic freedom score is 50. Drc is endowed with exceptional natural resources, including minerals such as cobalt and copper, hydropower potential, significant arable land, immense biodiversity, and the worlds second. Leopoldstad, is the capital and the largest city of the democratic republic of the congo. Advancing green development in the democratic republic of congo. Latest news and information from the world bank and its development work in congo, democratic republic of. The economy of the democratic republic of the congo has declined drastically since the mid1980s, despite being home to vast potential in natural resources and mineral wealth at the time of its independence in 1960, the democratic republic of the congo was the second most industrialized country in africa after south africa. In april 2020, the eastern democratic republic of congo was facing two major infectious disease outbreaks. Scale of acute hunger in the democratic republic of the congo. Quintessence of macroeconomic uncertainty in the dr. Systemic corruption since independence in 1960, combined with countrywide instability and conflict that began in the early90s, has dramatically reduced national output and government revenue. The democratic republic of the congos economic freedom score is 49. Congo, democratic republic the growth rate of the congolese economy fell from 6.
With a total population of 15 million as of 2021, it is the largest city in africa once a site of fishing and trading villages situated along the congo river, kinshasa is now one of the worlds fastest. Gross domestic product gdp denotes the aggregate value of all services and goods. In late 20, there was a period of optimism that armed violence and attacks on civilians might decrease in eastern democratic republic of congo, following the defeat of the abusive m23 armed. In 2015, security and intelligence officials in the democratic republic of congo clamped down on activists and political opponents who opposed political maneuvers to allow president joseph kabila. The web site features project reports, news and weekly briefings, and maps on economic resources, conflict, and human rights in the democratic republic of congo especially katanga and eastern drc, rwanda, and uganda.
Systemic corruption since independence in 1960, combined with countrywide instability and conflict that began in the mid90s has dramatically reduced national output and government revenue and increased external debt. Apr 06, 2021 congolese soldiers from the armed forces of the democratic republic of congo fardc rest in the forest after the army took control of an allied democratic forces adf rebel camp near the town of kimbau, north kivu province, democratic republic of congo on february 18, 2018. Congo, democratic republic of the economy 2015, cia world. Congo, democratic republic of the the world factbook. Dr congo economy gdp, inflation, cpi and interest rate. Political economy and governance in the democratic republic of. Following mobutus departure, kabila assumed the presidency and restored the countrys previous name, the democratic republic of the congo. Following a subdued h1 as a result of the covid19 hit, although the blow was cushioned somewhat by mines continuing to operate despite the adverse health situation, economic conditions seem to have improved so far in h2. During his last visit to the drc in march 2015, imf deputy managing director david lipton said he was impressed by the countrys economic. This selected issues paper on the democratic republic of the congo was prepared by a staff team of. Democratic republic of congo overview world bank group. The democratic republic of the congo s economic freedom score is 49.
Dr congo is a vast country with immense economic resources and, until recently, has been. Democratic republic of congo has highest levels of hunger in. Although drc is experiencing relatively high levels of overall economic growth, it remains one of the poorest countries in the world. Growth rate of real gross domestic product gdp from 2015 to 2025 compared to the previous year. Since 2015, the dr congo, a major rentbased economy in africa, has embarked into macroeconomic turbulence with significant inflationary. Kabila initially was able to attract foreign aid and provided some order and relief to the countrys decimated economy. This site uses cookies to optimize functionality and give you the best possible experience. Democratic republic of the congo cod exports, imports, and. Cameroon to its northwest and the central african republic to its northeast. Congo, democratic republic of the economy 2020, cia world. The republic of the congo pronunciation help info french. The ongoing ebola epidemic in the democratic republic of congo, 20182019.
This market fundamentals report for the democratic republic of the congo drc presents findings to inform regular market monitoring and analysis in the eastern provinces of the country. Democratic republic of the congo economy overview zambia had one of the worlds fastest growing economies for the ten years up to 2014, with real gdp growth averaging roughly 6. Sep 16, 2019 the democratic republic of the congo drc is the second largest country in africa and potentially one of the richest in the world in terms of natural resources. The recent history of the democratic republic of congo dr congo has been one of civil war and corruption. With 80 million hectares 197 million acres of arable land and 1,100 minerals and precious metals, the drc has the resources to achieve prosperity for its people. The republic of the congos economy is a mixture of subsistence farming, an industrial sector based largely on oil and support services, and government spending. The economy of the democratic republic of the congo a nation endowed with vast natural resource wealth continues to perform poorly.
The drc made some progress in terms of human development in 2016, but that progress remains fragile. Jan 10, 2019 a chronology of key events in the history of the democratic republic of congo, from the 1200s to the present. Democratic republic of the congo african economic outlook 2017 the growth rate of the congolese economy fell from 6. Under leopold ii, the congo free state became one of the most infamous international. Democratic republic of the congo budget balance, million. Democratic republic of congo extractive industries. The fiscal and legal regimes are determined by the 2015 hydrocarbon. Political economy and governance in the democratic republic of ongo dr huma haider updates from 2011 onwards by brigitte rohwerder 03.
Is the democratic republic of congo the next emerging economy. After years of economic decline, conflict, and instability, the democratic republic of congo achieved rapid economic growth in the 2000s along with a reduction in rural consumption poverty. Congo, democratic republic aml report knowyourcountry. Democratic republic of congo has highest levels of hunger. Ebola outbreak in the democratic republic of the congo declared a public health emergency of international concern. Democratic republic of the congo gdp gross domestic product. Democratic republic of the congo cod exports, imports. Congo, democratic republic african economic outlook 2015. The democratic republic of congo is widely considered to be the richest country in the world regarding natural resources.
Congo brazzaville economic indicators moodys analytics. Growth and poverty in the democratic republic of congo. Democratic republic of congo economic outlook african. Recent macroeconomic and financial developments the democratic republic of congo drc experienced in 2020 its first recession in 18 years as a result of adverse impacts of the covid19 pandemic across the world. Drcs macroeconomic performance remained strong through the first half of 2015 despite a difficult external and domestic environment. Congo, democratic republic market overview privacy shield. At the time of its independence in 1960, the democratic republic of the congo was the second most industrialized country in africa after south africa. The growth rate of the congolese economy fell from 6. Congo, democratic republic market overviewcongo dr market overview discusses key economic indicators and trade statistics, which countries are dominant in the market, the u. Democratic republic of the congo gross domestic product. Democratic republic of congo recognised for progress on eiti implementation news. Political economy and governance in the democratic.
If we order the countries according to their gdp per capita, democratic republic of the congo is in 188 th position. May 11, 2015 is the democratic republic of congo the next emerging economy. Systemic corruption since independence in 1960, combined with countrywide instability and intermittent conflict that began in the early90s, has reduced national output and government revenue, and increased external debt. Congo is one of subsaharan africas largest producers. Democratic republic of congo profile timeline bbc news. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Apr 07, 2021 over 27 million congolese one in three people now critically hungry kinshasarome in the democratic republic of the congo drc, the food security situation remains dire with one in three people a record high suffering from acute hunger, two united nations agencies, the food and agriculture organization fao and the world food programme wfp warned today. Democratic republic of the congo statisticals economy. Democratic republic of the congo gross domestic product gdp. The economy of the democratic republic of the congo has declined drastically since the mid1980s, despite being home to vast potential in natural resources. Contribution of the extractive industry to the economy. The state included the entire area of the present the democratic republic of the congo. On august 1, 2018, the democratic republic of the congo ministry of health drc moh declared the tenth outbreak of ebola virus disease ebola in drc, in the north kivu province in eastern drc on the border with uganda, 8 days after another ebola outbreak was declared over in northwest equateur province.
The democratic republic of the congo drc is a country located in central africa with a short atlantic ocean coastline. Economy democratic republic of the congo this page presents various indicators in the field. The country shares borders with the republic of congo to the north west, the central. Democratic republic of the congo democratic republic of the congo the democratic republic of the congo. Indeed, following the fall in oil prices, congo, like the opec countries, lowered. With a surface area equivalent to that of western europe, the democratic republic of congo drc is the largest country in subsaharan africa ssa. The taxto gdp ratio in the democratic republic of the congo decreased by 0. Consequently, the total stock of both external public debt and domestic debt rose in 2020 to an estimated 15. The rapid increase in global trade restructures the global economy.
The average value for democratic republic of the congo during that period was 7. For that indicator, we provide data for democratic republic of the congo from december 2009 to october 2020. The democratic republic of the congo is named after the congo river, which flows throughout the country. The congo free state was a corporate state privately controlled by leopold ii of belgium through the association internationale africaine, a nongovernmental organization. The taxtogdp ratio in the republic of the congo decreased by 3. Funded by the european union and the belgian ministry of foreign affairs ipis is an independent research institute which focuses on subsaharan africa. Political economy and governance in the democratic republic. The economy of the democratic republic of the congo a nation endowed with vast natural resource wealth is slowly recovering after decades of decline. Republic of the congo on september 02, 2015, the executive board of the international monetary fund imf concluded the article iv consultation1 with the democratic republic of the congo drc. This chapter evaluates the extent to which recent growth has been accompanied by improvements in multidimensional child welfare using arndt et al.
The pandemic has also affected drcs economy and the government has reduced its 2021 budget by 38%. About 40 million rural congolese depend on the forests for their food, income, energy, shelter, medicines and cultural needs. The deterioration in the economy is in large part due. No claims are made regarding the accuracy of congo, democratic republic of the economy 2015 information contained here. The democratic republic of the congo gdp forecast 2017.
History of the democratic republic of the congo wikipedia. In english only, for now adolescent fertility rate births per 1,000 women ages 1519. Between 2012 and 2014, more than 119,000 congolese refugees returned from the republic of congo to the relative stability of northwest drc, but more than 540,000 congolese refugees remained abroad as of yearend 2015. Mar 30, 2021 the economy of the democratic republic of the congo a nation endowed with vast natural resource wealth continues to perform poorly. In 2019, gross domestic product of the democratic republic of the congo amounted to around 49. The economy of the democratic republic of the congo has declined drastically since the mid1980s, despite being home to vast potential in natural resources and mineral wealth. Budget balance, million currency units in democratic republic of the congo, december 2009 october 2020.
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