The Democratic Republic of Congo’s central bank has cut the country’s 2016 GDP growth estimate.The central bank now anticipates the economy to grow by only 2.5 per cent down from a reversal of 4.3 per cent. The lowering of the forecast has been attributed to low commodity prices. This latest downgrade is the fourth this year.
Nestled in the heart of central Africa, the Democratic Republic of Congo (DRC) is in the midst of a major transformation. Known for its abundance of natural resources that are estimated to number above $24trn, the country has recently posted significant economic progress and has diversified to expand on its agricultural and human capital potential.
Most news headlines from the Democratic Republic of the Congo (DRC) have one thing in common—their focus on conflict, particularly in the eastern part of the country. True, conflict is not new in the DRC, which has seen outbreaks in one form or another over the past three decades.