DRC MINISTRY OF FINANCE ANNOUNCES LOWER PROJECTED GROWTH FORECAST DUE TO IMPACT OF UNSTABLE CHINESE MARKETS
Despite lower projected growth, DRC continues to present multiple foreign investment opportunities within the country
KINSHASA—August 26, 2015— The Democratic Republic of Congo’s (DRC) Ministry of Finance today announced that the declines in the Chinese financial markets have led to a reduction in the DRC’s growth forecast for 2015, due to a slowdown in commodities demand. The projected growth forecast for the DRC is now 8.4%-- still more than double the global economy’s projected growth of 3.3%.
“Due to its major influence on international markets, China’s downward growth forecast has lowered import projections and pushed the price of copper—one of the DRC’s major exports— to a six year low. This has resulted in an unavoidable impact on our own growth forecast,” said DRC Minister of Finance Henri Yav Mulang.
“In spite of these challenges, the DRC government continues to be proactive in identifying and implementing new sources of revenues and job creation to diversify the economy and its focus is on the development of small and large scale agriculture. Thanks to our dynamic economy and the reforms we have implemented in recent years, the DRC continues to be ripe for foreign investment."
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