As the second-largest country on the African continent, the Democratic Republic of the Congo (DRC) is emerging as a stable and promising leader in Africa, with improved security, a growing economy, and a commitment to democratic governance. Since the signing of a peace accord in 2002 that ended years of civil conflict, the Congolese people have taken critical steps in forming a unified military, establishing new foundations for economic progress, and pursuing democratic aspirations guided by the 2005 Constitution.

Rich in both human and natural resources, the DRC has established policies that are generating strong economic growth as well as interest and engagement by international investors. Its entrepreneurial workforce has demonstrated both resilience and determination. To support this progress and future potential, the nation’s infrastructure is being rebuilt with new roads, schools, and hospitals under construction—both promoting employment and stimulating further commercial activity.

The DRC is known for its vast resources and diverse wildlife, including a large portion of the second largest tropical forest in the world, the Congo Basin. The country is home to 1,000 bird species, more than 400 fish species, 10,000 species of plants, and three of the world’s four great apes. Breathtaking protected habitats are located in the DRC, including Garamba National Park and Virunga National Park—the world’s oldest nature preserve of its kind. The DRC also possesses nearly 80 million hectares of arable land and more than 1,100 minerals and precious metals.

The Constitution

Over the last decade, the DRC Government has worked to build a new Congo with an inclusive, transparent and democratic government that can provide a better future for all citizens. Having emerged from conflict under the leadership of President Joseph Kabila, the Congolese people have taken critical steps in pursuing democratic aspirations guided by the DRC’s Constitution, which guarantees freedom of speech and religion.For more information, read the Official Journal of the President Cabinet. Note to read the Constitution, click on the icon below (PDF). The document is in French and is not currently available in english.

Economy

The World Bank reports that the Democratic Republic of Congo’s economy to average five percent growth in 2017-18, compared with 2.7 percent in 2016, with stronger commodity prices and expanding agriculture and services sectors. The information below is gathered from various reports from trusted institutions.

Inflation overview

– Headline inflation decreased from 39.6% year on year (yo-y) in January to 36.3% (yo-y) in February this year. The inflation rate accelerated significantly in 2016, after low commodity prices and insufficient inflows of US dollars caused the Congolese franc to weaken significantly. In response, the Banque Centrale du Congo (BCC) increased the country’s base interest rate in February 2017 from 7% to 14%.

Growth summary

– Low commodity prices in 2015-2016 weighed on the profitability of the mining sector that, in turn, weighed down overall economic growth. It is however expected that commodity prices will improve during 2017, and for real GDP growth to rise from 2.4% in 2016 to 2.8% in 2017. Growth is still restrained by the challenges of developing adequate infrastructure throughout the country Growing mining exports in 2017 and 2018 will allow for a narrowing of the deficit over the next year to a projected 2.1% of GDP by 2018.

Economic policy

– A growing population in the DRC drives economic growth from a consumer spending perspective. A low commodity prices in 2015-2017 weighed on the profitability and performance of various sectors. Mining companies have struggled to maintain operations in an environment that do not yield the same profits though in 2018, stronger mining sector production, led by copper and cobalt, and stabilizing external accounts will support a slight acceleration of economic growth to 3% from 2.8% in 2017.

The DRC has an estimated 80 million hectares of available arable land with only 10% under cultivation. The secondary sector is dominated by oil production, the mining industry and factory sector. Mines produce the copper, cobalt and mineral ores that accounted for more than 80% of export revenues in 2015.

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