DEMOCRATIC REPUBLIC OF CONGO RECORDS BUDGET SURPLUS OF $43MM FOR FIRST HALF OF 2015
Surplus comes while government reinvests heavily in agriculture and funds constitutionally mandated provincial decoupage
KINSHASA—September 2, 2015— The Democratic Republic of Congo’s (DRC) Central Bank announced this week that the government posted a budget surplus of $43 million USD (39.8 billion Congolese francs) in the first half of 2015. This budget surplus comes while the government reinvests heavily in agriculture and funds the country’s constitutionally mandated provincial decoupage to prepare for elections in 2015 and 2016. Investments in public improvement projects were also up 7.7 percent compared to the same period last year.
“While economies around the world face budget challenges, the DRC continues to post impressive economic gains thanks to bold financial and economic reforms, strategic investments and capacity building efforts,” said DRC Minister of Finance Henri Yav Mulang. “Thanks to its wealth in resources and people, the DRC continues to identify economic opportunities both for its citizens and for investors, even while exports have declined due to external market conditions.”
The government announced last week that declines in Chinese financial markets have led to a reduction in the DRC’s growth forecast for 2015, due to a slowdown in demand for commodities. The projected growth forecast for the DRC is now 8.4% – more than double the global economy’s projected growth of 3.3%.
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